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$1,175,000
Available - For Sale
Listing ID: T10929364
Featuring a motel situated in a location like no other. Located in the heart of fishing, hunting and year round tourism. This prime location fronting on highway 11 comes with multiple business expansion opportunities. Excellent opportunity for a buyer looking to improve or expand an existing business. The motel features 18 rooms with 2 separate apartments(2 bedrooms & 3 Bedrooms) one of which can be an owners suite. Daily room rents range from $100 to $145/night. 2 min walk to Bay Lake which offers a great fishing experience, children's play area & BBQ pits close by. Area offers year round activities like fishing, hunting and snowmobile trail in the area which generates year round business. The Motel is about 1.5 km from Burns Hiking Trail and 10 min drive from Town of Cobalt known for its silver mines featuring various summer attractions. Timiskaming Nordic Ski Club is 10 km away. About 30-40% of business comes from online portals such as Expedia, Booking.com & Airbnb, and the balance about 60-70% of the business is direct, corporate & repeat customers.
Extras:   Existing cafe can be converted to a restaurant. Extra Lot behind the motel included in the purchase price and can be used to expand the motel or create additional amenities for the motel.
Price $1,175,000
Taxes: $8,973.67
Tax Type: Annual
Occupancy by: Owner
Address: 35 Main St North , Latchford, P0J 1N0, Ontario
Postal Code: P0J 1N0
Province/State: Ontario
Lot Size: 132 x 264 (Feet)
Directions/Cross Streets: Highway 11/Bradley Ave
Zoning: Commercial
Category: With Property
Use: Hotel/Motel/Inn
Building Percentage: Y
Retail Area: 650
Retail Area Code: Sq Ft
Area Influences: Major Highway  
Business/Building Name: Bay Lake Inn
Financial Statement: Y
Chattels: Y
Franchise: N
Days Open: 7
Hours Open: 8am-10p
Employees #: 1
Seats: 0
LLBO: N
# Trailer Parking Spots: 4
Central Air Conditioning: Y
Elevator Lift: None
Sewers: San+Storm
Water: Municipal
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EXP REALTY

35 Main St North , Latchford, P0J 1N0, Ontario


 
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Type: Com - Sale Of Business
Area: Timiskaming
Municipality: Latchford
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Lot Size: 132.00 x 264.00(Feet)
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Tax: $8,973.67
Maintenance Fee: $0
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