9151 Rd 164 Hwy - Hospitality FOR SALE


North Perth, ON N0G 2P0
$3,000,000 CAD
416-558-3487
9151 Rd 164 Hwy, North Perth, ON for Sale
$3,000,000 CAD
Hospitality - FOR SALE
1/15
null | Request Cap Rate

9151 Rd 164 Hwy
North Perth, ON N0G 2P0


HIGHLIGHTS

  • This offers a versatile opportunity to enhance or diversify.
  • Set in a serene location.
  • close to local demand drivers such as the Listowel & Palmerston town centers, Palmerston Industrial Park and TG Minto Factory.

OVERVIEW

Priced to Sell - 6 Acre lot,11500 Sft-20 Rooms Motel (19 Rentable Rooms, 1 Game Room with Potential to turn it into a Rentable Room), plus a 2 Bedroom Owner suite (2 BR, 1 Bath, kitchen, living and dining), extensively renovated. A 528 ft. Frontage on Ontario HWY-23 N, easily visible from street. The property, currently zoned as Highway Commercial, offers a variety of development and expansion opportunities. This parcel is ideally suited for a range of developments. With its substantial size and strategic zoning, the property is ripe for a visionary developer to maximize its potential fully. Renovations completed between 2017 and 2020 encompassed updates to guest rooms, bathrooms, plumbing, electrical systems, and equipment, along with new corridor, windows, doors, roofing, this includes new roof shingles 2020, ESA Certified, Energy efficient Base board Heaters and new Plumbing/Sewer permit approved. Close to local demand-drivers such as the Listowel & Palmerston town centers, Palmerston Industrial Park, TG Minto Factory (Toyota), Listowel Golf Club, Spinrite Yarns, LTI Tech. (Honda), Steve Kerr Memorial Complex and developing Northeast Employment Lands. With the current owner looking to retire, this presents a unique opportunity for a motivated buyer to capitalize on the property's potential. Under new management, there is tremendous scope to enhance revenue and drive profitability. This property is perfect for someone looking to invest in a business with a solid foundation and significant growth potential. Attention all investors & builders: The current Highway Commercial zoning of supports a wide array of development projects or expansions to the existing motel. Property Serviced by Hydro One for Electricity & Enbridge Gas for Natural Gas.

FOR SALE DETAILS

PRICE

$3,000,000 CAD

PRICE/SF

$261 CAD /SF

# OF ROOMS

20

PRICE/ROOM

$150,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Magnuson Hotel Vow

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1987

PARKING SPACES

41

LAND DETAILS

LAND ACRES

6.25 AC

LAND SF

272,250 SF

ZONING

C3-11

APN/PARCEL ID

314041000610900

ASK ABOUT THIS PROPERTY

Varinder PuaarRoyal Lepage Flower City RealtyMore Info
416-558-3487

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Varinder PuaarRoyal Lepage Flower City RealtyMore Info
416-558-3487

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.