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Established Motel In Onoway, Alberta For Sale

Edmonton, Alberta, Canada
Asking Price:
$780,000 (CAD)
Sales Revenue:
$189,000 (CAD)
Cash Flow:
$107,000 (CAD)

Opportunity knocks! This extensively renovated motel has many upgrades including a $70,000 Boiler, brand new metal roof, new hot water tank, in-house laundry, 52" TVs, new siding, double pane windows, new beds, and much more! Out of the 26 non-smoking rooms, 14 of them are kitchenettes (3-1 Bedroom, 3 Kitchen Bachelors, 8 Regular Full Kitchen) and 12 2 Bedroom Suites! In 2020, the occupancy rate for the motel is 70% which includes the daily and month-to-month rentals. Enjoy your 2 bedroom 900 Sq. Ft managers suite with a private deck equipped with a BBQ! (On-site manager is willing to stay) The Incredibly designed 2730 Sq. Ft pub/restaurant is included with the purchase and is equipped with wiring for 3 VLT's, wiring for an ATM, a large seating area for both the pub/restaurant and 5 large TVs to cheer on the oilers! The pub can be owner/operated or leased out separately.

In 2020, this motel has a 10.5%+ Cap Rate with gross revenues over 189 Thousand. With the addition of the restaurant leased out, the cap rate is expected to be well over 15%. As per the seller’s condition, we will be requiring proof of funds for the down payment and a signed NDA before releasing any financial information or showings. Please contact the listing agent for interest in leasing out the restaurant/pub separately.

The property is located in Onoway, Alberta

For more information, please call me at (780)-307-6298

Property Information

Real Estate:

Real Property Included

Living Accommodation:

14 Kitchenettes
12 2 Bedrooms.

2 Storey Motel with 3 suites in the basement under the restaurant

Location:

Onoway, Alberta

Premises Details:

Opportunity knocks! This extensively renovated motel has many upgrades including a $70,000 Boiler, brand new metal roof, new hot water tank, in-house laundry, 52" TVs, new siding, double pane windows, new beds, and much more! Out of the 26 non-smoking rooms, 14 of them are kitchenettes (3-1 Bedroom, 3 Kitchen Bachelors, 8 Regular Full Kitchen) and 12 - 2 Bedroom Suites! In 2020, the occupancy rate for the motel is 70% which includes the daily and month-to-month rentals. Enjoy your 2 bedroom 900 Sq. Ft managers suite with a private deck equipped with a BBQ! (On-site manager is willing to stay) The Incredibly designed 2730 Sq. Ft pub/restaurant is included with the purchase and is equipped with wiring for 3 VLT's, wiring for an ATM, a large seating area for both the pub/restaurant and 5 large TVs to cheer on the oilers! The pub can be owner/operated or leased out separately.

In 2020, this motel has a 10.5%+ Cap Rate with gross revenues over 189 Thousand. With the addition of the restaurant leased out, the cap rate is expected to be well over 15%. As per the seller’s condition, we will be requiring proof of funds for the down payment and a signed NDA before releasing any financial information or showings. Please contact the listing agent for interest in leasing out the restaurant/pub separately.

The property is located in Onoway, Alberta.

Size in square feet:
61,420

Business Operation

Expansion Potential:

Situated on 1.41 Acres, has the potential to be subdivided.

Competition / Market:

One other hospitality location in the town with a bar, however, the condition of this motel/restaurant is far greater.

Trading hours:

24 Hours

Employees:
Full Time Manager
Years established:
1980-Present

Other Information

Furniture / Fixtures value:
$350,000 (CAD)
Website:
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