Swan Hills Hotel, Tavern, Liquor Store, Restaurant, Lounge, plus Rental Unit
$499,000
4924 Plaza Avenue, Swan Hills, AB T0G, Canada
25,406 sqft
Building Size
0.95 acres
Lot Area
Details:
Description:
Swan Hills Hotel (8 VLT’s); Liquor Store; 18 rooms; Restaurant; Lounge plus 3692 sq.ft. area to lease. Seller currently operates the Hotel (Bar area) and liquor Store. The Lounge, Restaurant, and remaining space have been vacant for over 6 years. Renting the 18 rooms stopped 2 years ago. Previous operation of the entire 25,460 sq.ft. had gross income over $1.5 million. Bar and Liquor Store are profitable. Bar seats over 160 people; Pool tables; Dart area; Band area. Food intake is contracted out to another restaurant. The building occupies almost an acre of land (0.95 acres) but will require extensive renovations for a portion of the roof; and interior upgrades. The Seller is will carry 1st mortgage with 30%-35% down payment; 5 year term; 5% interest amortized over 20 years. This will enable a Buyer to pay for the renovations; leasing or operating restaurant and remaining area of the building. Inventory is approximately $200,000 which can be reduced in value if required.
Documents:
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Location
Gallery
