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Spanish,ON P0P 2A0
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2 sqft
Price per Sqft $600,000
MLS Listing ID X12098586
Annual Tax Amount $11,196
Tax Year 2024
Property Sub-Type Investment
Property Description
16 Room Indoor Corridor Motel, Spent thousands of dollars on recent Renovations and Upgrades. Year-round profitable business and easy ONE-MAN operation, very comfortable to manage and maintain in the winter months due to the indoor corridor. The motel is located (about 30 min from Espanola, 1 hour west of Sudbury and 5 hours north of Toronto) Right on Trans Canada Hwy 17 in the Spanish town with NO other motels in the town, No competition. The Snow Mobile Trail located right at the back of the motel. Great customer base, mainly Workers and Staff from the different companies/industries and tourist in the summer and fall months. Motel has a good demand for Weekly & Monthly occupancy, in fact good to have some long-term guests staying in the winter months to pay off the bills. The Motel has an in-house Restaurant and Bar (however restaurant and bar had NOT been in operation for many years - extra income potential for the right buyer if runs the restaurant and bar), It has an additional Entertainment/Party area as well (possibilities of adding more rooms or an apartment). Absentee Owner, this business is an ideal opportunity for the Owner Operator to enjoy a semi-retired and less expensive northern Ontario's lifestyle, work limited hours and still make very good NET INCOME in the pocket after paying off mortgage and all operating costs. Total Lot Size: about 2.08 Acres. Property has Municipal Water and Sewer (No Septic or Well)
Location
State ON
County Algoma
Area Algoma
Zoning Commercial - Motel
Interior
Cooling Yes
Inclusions A full list of chattels and equipment included will be provided to the buyer during the offer's conditional period.
Exterior
Parking Features Outside/Surface
Community Features Major Highway
Utilities Available Yes
Building
Lot Description Lot