Sea Side B & B Restaurant With Apartment

Listing ID: 700208570

Listing Title: Sea Side B & B Restaurant With Apartment

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Industry: Hotels and Holiday Accommodation

Industry Segment: Guest Houses / Bed and Breakfast

Country: Canada

State / Province: Newfoundland


City: Corner Brook

Asking Price Range: < $250K

Gross Revenues: $75,000

Cash Flow: $10,000

Cash Flow Type: Sellers Discretionary Cash

Year Established: 2001

Number of Employees: 1 - 3

Business Description:
Operated for 10 years as a Canada Select B&B. Has commercial kitchen and cafe seating for 20. Five bedrooms and two bathrooms. One bedroom has an ensuite and there are also two public rest rooms to serve restaurant traffic. Private rear patio with additional seating and covered front deck. Large basement rec room with another small bathroom. Laundry room. Two bedroom basement apartment with separate entrance. Ample parking on this 3/4 acre lot right on Trans Canada Trail and ocean. Quiet side street with senior neighbours and Museum. Business was successful since it is just 4 kilometres off Highway. The property also has an RV dumping station and outside water. All plumbing and electrical is in good order and the roof was shingled new in 2010. The business includes all restaurant equipment and B&B furniture right down to linens and utensils. Rooms were also kept busy with highway traffic, ATV tours, Snowmobile tours, and Atlantic Salmon sport fishing. As well, the owners are doing a brisk niche business with the construction industry offering room and board packages. Operate business status quo or any other venture. Can easily be four rental apartments. Property is presently leased to a national company subcontracted by the Muskrat Falls Hydro Project. This property is priced considerably below market value as owners have recently moved into a their newly constructed home and hope to sell quickly. Owners would be willing to mentor new owners in the restaurant business. The asking price is just $155,000 with the municipal assessed value nearly double that. Owners may consider a lease to own agreement with reputable buyers. You can contact owner at 709-649-1980. We can send along pictures and answer any questions.

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