22 Unit Motel And Restaurant On PEI For Sale

Business description

This motel/restaurantl & Coffee Shop is located just 2 kilometers from the base of the Confederation Bridge on Highway #1 in the community of Borden-Carleton. With annual sales of over $250,000 a year this 50 year old business has seen many upgrades in the last 5 years. Building also has a full drive in basement where cars (up to 50 units depending on size) are stored during the winter months. All units are equipped with 4 piece bath and 13 units are set up as housekeeping units while the remaining 9 units are regular overnight units. Air conditioning available in all units. Also attached to the motel is a 3 bedroom bunglow that is used as owners residence and easy access to the main office for late check-ins when the office and restaurant are closed. In 2006 we removed 2 units from the original 24 units to expand the restauant and install a tanning salon which to date has approxiamately 200 members. Was asking $550,000 have now dropped price to $525,000
Reason for selling ... health issues

Property information

Real Estate:

Real Property Included

Living accommodation:

Attached to the motel is a 3 bedroom bunglow with all appiiances included in sale price. The home is completed with hardwood flooring in livingroom and laminate flooring in the rest of the home except the bathroom which is cusionfloor. The home is heated from the hot water furnace heating the motel and there is also a propane fireplace in the livingroom. Also included is a finished hobby/recreation room in the basement.

Location:

Located on Highway 1,Trans Canada Highway just 2 kilometers from the base of the Confederation Bridge, the gateway to Prince Edward Island on 2.68 acres of land creating lots of area for expansion

Premises details:

22 unit motel with attached 38 seat restaurant, tanning salon, and 3 bedroom bunglow home. Updates include roof, windows, siding, bathrooms, interior upgrades,insulation, parking lot, furnace, and much more.

Size in square feet:

11300 sw feet

Business Operation

Expansion potential:

Since the motel is located close to a public beach (2) in less than 2 kilometers and the property is located in 2.68 acres the potental for motel expanion or cottages would be a viable venture.

Competition / Market:

This is the first motel you see when entering and last motel when leaving Prince Edward Island. Nearest competition is located in Central Bedeque about 10 kilometers from Borden-Carleton or DeSable which is located 28 kilometers from Borden-Carleton.

Reasons for selling:

Health issues make it difficult to manage and work the business

Trading hours:

business is open in the summer months Monday to Saturday 7 A.M. to 9 P.M. and Sundays 8 A.M. to 9 P.M. Winter hours is Monday to Saturday 7 A.M. to 3 P.M. and Sundays 8 A.M. to 3 P.M. Because the house is attached to the main office and restaurant we allow customers access to the tanning salon after hours until 9 P.M.

Employees:

summer months 11 staff and off season there is 4 staff members

Years established:

1961 1st 6 units, 1963 next 6 units, 1971 next 12 units plus coffee shop, 1973 3 bedroom bunglow added

Other information

Support & training:

As long as my heath remains I will be able to assist prospective buyer for a year or until health issues force me to leave.

Furniture / Fixtures value:

$50,000 (included in the asking price)

Inventory / Stock value:

$10,000 (included in the asking price)

Website:

Please click here to view the link

Related documents:

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• Document

Home based:

This business can be run from home.