Successful Coastal Motel
Location:
Canada
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Nova Scotia
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Canso
Industry: Hotels and Holiday Accommodation > Motels
Business Summary
This beautiful 11-unit motel, 2 housekeeping units & 46 seat licensed dining room business opportunity is situated on 3.134 Acres of land located on route 16 in Hazel Hill, Nova Scotia just 2 miles from the historic port town of Canso. Each room has been recenty renovated with new carpets, paint, and upgraded furniture.
Revenues growing year over year with Seller's Discretionary Cash Flow of $130,000 in 2008.
The motel was built in 1984 and has undergone two development phases adding rooms, two housekeeping units and a 46-seat dining room. In addition to the dining room there is a 16-seat enclosed patio that allows the motel patrons and guests to enjoy daytime and evening warm summer and fall temperatures.
The motel is located in the small historic coastal community on the eastern shore of Nova Scotia. The community has a well documented fishing, military, and technological background. Canso is the oldest fishing port in Mainland North America, dating back to the early 1600's.
Living accommodation:There is an owner/manger private residence available for purchase at $120,000.
Behind the housekeeping units is a space approximately 2000 sq. complete with a mezennine. This space would be an excellent venue for lobster suppers during summer and fall seasons.
The owners are having a website developed for the business. They have been operating without a website up to this point. A website would definetly improve the motel's exposure to the global market. A shuttle service from the motel to the Marina could be implemented to pick up boaters and sailors coming from and going to the Bras D'or Lakes. The coastal town of Canso is strategically located as a layover stop for boaters and sailors.
The motel is situated on enough land that more units could be developed. The current owner also has available for purchase, 15 Acres that abuts the motel property. There is no direct competition within 30 miles of the motel property.
Financials
Asking Price Range: $250K - $500K
Gross Revenues:
$320,000
Cash Flow:
$130,000
Cash Flow Type: Sellers Discretionary Cash
Inventory: All FF&E included for turn key operation.
Seller Financing: Not Disclosed
About The Business
Year Established: 1984
Number of Employees: 4 - 5
Relocatable: No
Franchise: No
Current Real Estate: Owned
Property: Property For Sale
About The Sale
Management Training and Support: Available to ensure smooth transition.
Reason For Selling: Retirement.
Photos
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Click on the "I'm Interested" button above for more information on this Hotels and Holiday Accommodation > Motels business for sale.
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Print Listing Id: 700105599
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