Close

Choose your country

Or view all businesses for sale

Worldwide

Advertisement

Busy Motel In Summerside For Sale

Summerside, Prince Edward Island, Canada
Asking Price:
$800,000 (CAD) Furniture / Fixtures included
Sales Revenue:
$220,000 (CAD)
Cash Flow:
$85,000 (CAD)

Strong room sales year round this business needs a new family to take over from retiring owners. Tourism income growing every year and Extended Stay income has filled the off season months (or what we like to call our "Second Season"). Busy time for everyone during the summer months but lots of time off in the Second Season when we run basically as an apartment motel. Twenty two units with 16 having kitchens. Twenty Five seat restaurant with potential as a specially operation if operator has food background. Five acres of land accompany the motel and there is the potential to have a convenience store/ gas bar/ electric charging station on the property. Residence (Four bed and four bath) available under separate title-not currently part of motel sale.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

An owner could take advantage of living in one of the suites in the motel, or could install a manager. There is a separate residence five meters from the motel.

Location:

Located on TransCanada Highway to Summerside and north part of the Island. We are are 15 minutes from the Confederation Bridge which is the main gateway to the Island. Approximately in the middle of the Island we are surrounded by an ocean playground with appropriate bounty.

Premises Details:

Well established business started in the 1960's Major renovation took place in 2012 and 2013 but upkeep quality has been constantly maintained.
Lobby and restaurant are in the same part of the building.

Planning Consent:

Planning would be required to either build more units or add the gas bar convenience store to the enterprise; otherwise there is no application or business license required.

Business Operation

Expansion Potential:

Great potential to build a convenience store/gas bar/ electric charging station on the property; but one could also add more residential units.

Competition / Market:

Being in a suburb of Summerside (itself around 15,000 population) we enjoy our connection with the City and all of its events including the draws that come from major entertainers, and sporting events

Reasons for selling:

Owners retiring and settling elsewhere on the Island.

Trading hours:

Varies by season; but 7 AM to midnight during peak season

Employees:
four to five in Summer months; one in Winter
Years established:
1960's

Other Information

Support & training:

Seller will provide adequate support to purchaser to assist with success.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Owner may consider short term top up financing.

Furniture / Fixtures value:
$40,000 (CAD) - included in the asking price
Inventory / Stock value:
$5,000 (CAD)
Website:
Login or register to view link

Contact Information

    1. Your Address

    2. Optional
  1. Optional
  1. What will I receive?

    BusinessesForSale.com is committed to protecting your privacy. Ticking this box means you are consenting to us sending you marketing emails.

    You will receive newsletters, updates and offers about business and franchise opportunities. We will also send you information about related business and franchise events.

    You can change your mind at any time by clicking unsubscribe in the footer of our emails.

    Find out more about what we do with your information in our privacy policy.

By submitting this form, you confirm that you agree to our Terms and Conditions. Please note that BusinessesForSale.com will send the above details to the seller of this business. Find out more about what we do with your information in our privacy policy.

Selling a business?

If you own a business and are considering selling, visit our Sell a Business section. Limited Free Trial available.

Sell Your Business

Are you a Business Owner?

Set up your Private Seller Account and create your listing today

Get Started Here

Are you a Business Broker?

Set up your BrokerWeb Account and list multiple businesses

Get Started Here