- Advert ID: 507887
- (Seller ref: Flamingo Motel)
Penticton Motel & Development Site For Sale
- Location:
-
- Canada
- > British Columbia
- > Penticton
- > Penticton
- Category:
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Summary
- Asking price:
- $1,900,000 (Inventory / Stock included)
- Sales revenue:
- $220,000
- Net profit:
- $155,000
- Years established:
- 47
- Employees:
- 3
- Home based:
- This business can be run from home.
Business description
This up-dated 25 room Motel generates a gross income of $220,000. The Motel has a 3-bedroom managers residence, a swimming pool and coin laundry.
This is an excellent development site (1.034 Acres), on Skaha Lake Rd, one of Penticton’s major commercial streets and it is located two blocks from Penticton’s Wal-Mart. The city is agreeable to having the current CS (Commercial Service) zoning, changed to other higher density residential/ commercial zoning. This highest use zoning would be RM10 or RM12, allowing the development of a 10 to 12 story residential development.
Property information
- Real Estate:
- Real Property Included
- Living accommodation:
- The Motel has a large 3-bedroom managers residence
- Location:
- Excellent locate, 2387 Skaha Lake Road, on a major commercial street, close to Wal-Mart and Cherry Lane Mall
Other information
- Expansion potential:
- CS zoning allows many commercial uses and allows the development of a 47,300 sq. ft. building
Can be rezoned to RM10, allowing the development of a 10 story, 90,000 sq. ft residential development
Can be rezoned to RM12, allowing the development of a 12 story, 112,000 sq. ft seniors citizen care development
- Support & training:
- Ower would train new ower
- Reasons for selling:
- Retirement
- Financing available:
- Negotiable
- Related documents:
Contact the seller
For more information about this business for sale, click the Contact Seller button.
Please only contact this seller if you have a GENUINE interest in buying this business. DO NOT MAKE CONTACT if you wish to sell your third party goods or services as you will be blocked from this site.
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- Canada
- > British Columbia
- > Penticton
- > Penticton
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