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Boutique Hotel with Excellent Cash Flows

Sold

Listing ID: 1130

Location

Within 1 hour of Halifax

Description

This boutique hotel property is set in a prime tourist district and offers an incoming owner a growing source of income, easy operations of a rooms only business, and the opportunity for growth if desired. There are a total of 39 rooms in two buildings.


Financial Information

Growth in revenues year over year for the past 5 years, primarily based on business' growing reputation and marketing efforts. Expectation is for continued growth based on current macro factors, including a local development within one block of this property expected to drive additional demand season round. Fiscal year end is June 30 - just before tourist season starts. The 2018 operating season (Fiscal 2019) has proven to be another strong year, with results ahead of the 2017 (Fiscal 2018) operating season. NOI for 2018 - $404k (after owner salary) NOI for 2017 - $376k (after owner salary) * In order to move forward with this deal, a minimum equity of $1,000,000 is required.

Minimum Equity Required

$1,000,000

Real Estate

Prime downtown land provides the perfect street frontage for this operation and it's successful commercial leasing of this 3 story boutique hotel. Location is ideal, within walking distance from all tourist attractions. - Top of the line mechanical systems ensure cost of ownership kept to a minimum. All systems are approximately 5 years old. - Environmental assessment recently completed, all clear. - Total commercial lease revenue from 4 commercial units Additional real estate / business opportunity exists with this sale and would be very appealing for a motivated entrepreneur.

Price

$3,000,000

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