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Listings
$1,775,000
Just Reduced $ 100,000! 43 Unit Econolodge with Leased Restaurant
| Realtor:
» Larry Berisoff 250-862-8100
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Just Reduced from $ 1,975,000 to $ 1,775,000!
Motivated Seller will look at offers.
Syber Realty is pleased to offer this 43 unit Econolodge in the heart of Kimberley, British Columbia. Located at the main intersection in the city, it is easy to find and within walking distance of restaurants, shops and the famous Platzl! The business became an Econolodge in August 2011 and is now beginning to reap the benefits of that transformation.
The building was built / opened in approximately 1983, being about 30 years old it is in very good condition. The roof was replaced in 2010, and recently the exterior was painted, the “street appeal” is very good.
The current owners have done plenty of upgrades, the most important and the greatest cost was the installation of an elevator, the building always had the shaft, but never the elevator. Being a three story building this was a major detriment in attracting guests, finally in January of 2012; the elevator was given final inspection and is now in use!
The building has a restaurant which as of April 2012 has been leased for a five year term at $ 2,500 / month; this is great for guests, but more importantly the motel operation as it provides another reason for guests to stay. The restaurant has a small lounge area that will also be attractive to guests.
The basement area of the building which is also serviced by the elevator has a continental breakfast room, that can be used as a meeting room, a fitness room, a manager’s suite (2 bedrooms, 2 bathrooms) and another one bedroom one bathroom unit used by the owner.
In addition there is another approximately 3,400 square feet that at one time was a pub / bar. This for the most part as been dismantled, and can be used for another purpose. When it was a bar, it was a detriment to guests as there was the late night noise factor.
If you are considering a “Franchised” motel property, the Kimberley Econolodge should be on your list!
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| Taxes | $27,814.86 | | Property Type | Motels | | Status | Reduced | | Lot Size | 150' x 120' | | Units | 43 | | Zoning | C-1 | | Residence | Managers Suite | | Water | Municipal | | Sewer | Municipal | | Asset Sale | Yes | | Leased Restaurant | Yes | | Land And Building Included | Yes |
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