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Seasonal Cottage Rental Business - National Park

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Listing ID: 1104

Location

Nova Scotia

Description

Here is a business that has received great love and care and is just at the beginning of reaching it's full potential. It is located in one of the most desired tourist destinations in all of Nova Scotia, and located at the heart of where so many want to stay and enjoy. All units have been completely overhauled in the past few years and are built to R-2000 specifications. 2016 saw all units receive heat pumps. 2015 saw a new office and owners' suite constructed. This business operates from Early June - Mid October. Total of 5 part time staff required to run, in addition to owner (husband and wife). 3 housekeeping, 1 office staff, and 1 maintenance at 20-30 hours per week. With the quality of improvements made in the past several years, a new owner will not have to worry for 20+ years on the major items. There are a total of 13 units


Financial Information

Excellent occupancy year over year, room to increase the rates, as they have not been increased for 4 years. Plan just put in place to update pricing for 2018 season. Expectation is an owner/operator will be able to generate in excess of $150k per year. 2017 generated $265k in sales, providing approximately $135k Seller's Discretionary Earnings, up from $241k the previous year which provided $117k Seller's Discretionary Earnings. Bookings for 2018 are already well ahead of 2017. There is room room to trim back expenses.

Minimum Equity Required

Real Estate

Just over 3 acres of land, there is room to grow. - there are a total of 13 rental units, all with efficient heat pumps put in new in 2016 - 2015 construction of new office and 1 bedroom home (owners' quarters) - serviced with well (city water is on site and can be used if desired) and septic (all tanks pumped twice yearly) - cabins can easily be winterized, most work already done - lifetime steel roofs in place - camera and security system throughout - GPS enabled lighting system

Price

$825,000 (shares)

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