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$1,290,000
Available - For Sale
Listing ID: X7211822
Boasting 1000+ feet of shoreline with all exposures on approx. 13 acres on Gillies Lake in a town filled with history. Quiet, remote, with abundant wildlife, yet is located right off of 11B highway and within 15 minutes from the Lakefront towns of Haileybury & New Liskeard, on the Timiskaming shores. An established business is being sold with the property consisting of 5 renovated (2019) 4-season cottages with bookings all year. Guests include holidaymakers, nature enthusiasts, and longer-term stays for trades and construction people working in the area. Gross income last fiscal year approx $122,000. Expenses approx. $50,000. There is an RV site with 14 stalls and two boat launches. Additional structures are being upgraded for additional income streams. Beautiful site to build an owner's suite. There is potential to utilize the RV stalls as glamping areas or construct additional cabins. Those with landscaping skills could transform this property from something special to amazing!
Extras:   Year-round activities. Hiking. Swimming. Boating. Rock climbing. Shopping. Theatre. Dining. Directly on snow mobile trails. Ice Fishing. Cross-country skiing. ATV trail. Downhill skiing & snowboarding 20 minutes away.
Price $1,290,000
Taxes: $3,300.96
Tax Type: Annual
Occupancy by: Tenant
Address: 374100 Highway 11B , Coleman, P0J 1C0, Ontario
Postal Code: P0J 1C0
Province/State: Ontario
Legal Description: See mortgage comments
Directions/Cross Streets: In Between Cobalt And Hw 11
Zoning: CI Tourist Comme
Category: Accommodation
Use: Cabins/Cottages
Building Percentage: Y
Total Area: 700,698
Total Area Code:  Sq Ft
Area Influences: Grnbelt/Conserv   Major Highway
Approximatly Age: 0-5
Business/Building Name: Gillies Lake Front Cottages
Days Open: 7
Taxes Expense: $3301
Insurance Expense: $4415
Maintenance: 4,000
 Heat Expenses: $3000
 Hydro Expense:  $17000
Water Expense: $0
Other Expenses: $4000
Gross Income/Sales: $122000
Operating Expenses: $10000
Vacancy Allowance: 30
Net Income Before Debt: $71720
Estim Inventory Values At Cost : 50000
Year Expenses: 2022
Expenses Actual/Estimated: $Est
Crane: N
Heat Type: Elec Forced Air
Central Air Conditioning: N
Sewers: Septic
Water: Well
Water Supply Types: Dug Well
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BERKSHIRE HATHAWAY HOMESERVICES TORONTO REALTY

374100 Highway 11B , Coleman, P0J 1C0, Ontario


 
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Type: Com - Investment
Area: Timiskaming
Municipality: Coleman
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Lot Size: 1425.60 x 0.00(Feet)
Approximate Age: 0-5
Tax: $3,300.96
Maintenance Fee: $4,000
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Baths: 5
Garage: 0
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