About this propertyMLS® 1301835
Strategically located on the TCH halfway between Port aux Basques & Corner Brook this versatile commercial opportunity features a 9-room motel paired with a newly renovated, fully equipped 52-seat restaurant. Positioned to capture year-round drive-by traffic, the property benefits from twice-daily DRL bus stops, daily ferry traffic & an on-site EV charging station. Outdoor enthusiasts & travelers frequent the area thanks to nearby ATV & snowmobile trailways, as well as four major salmon rivers within a 20-minute drive—including one within walking distance—and exceptional local hunting. The motel section consists of 9 drive-up units, each featuring exterior private access, a 4-pc bathroom, TV, mini-fridge & microwave. Positioned centrally between the motel rooms & the dining area is the main lobby which houses guest registration & a manager's office. Two wheelchair-accessible washrooms are conveniently accessible from both the lobby & the restaurant. In the center of the property at the rear you will find practical space including a pantry, storage, utility room & staff laundry room. The restaurant is ready to set up featuring a dining area complete with a service counter with space for coolers. The kitchen comes fully equipped with a combi oven, double propane oven with 6 burners & griddle, two double-basket deep fryers, a commercial hood, Hobart slicer, French fry slicer, potato peeler, bread mixer, bread proofer with pans, bread slicer, ice maker, commercial dishwasher, 3 stainless steel sinks, a refrigerated sandwich bar & server, shelving and more. The property offers vast operational flexibility. It is ideal for operating a traditional roadside diner, establishing a drive-thru, or partnering with local guides to offer outdoor adventure packages. Alternatively it presents a turn-key solution for commercial operations requiring workforce housing, allowing you to utilize the motel rooms as staff quarters while leasing or running the restaurant independently. (id:56688)
Specifications
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Room by room
Rooms
The essentials
Location, air, flood & taxes
Elevation
85 m above sea level
Air quality now
AQHI 1 · Low risk
Corner Brook station · updated 2:00 a.m.
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Estimated monthly payment
$0/mo
Principal & interest $0 per month
Financing breakdown
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Monthly cash flow
$-874
NOI / month
$-874
Cap rate
-1.50%
Gross yield
0.00%
| Line item | Monthly | Yearly |
|---|---|---|
| Gross rent | $0 | $0 |
| Mortgage | $0 | $0 |
| Property tax | $0 | $0 |
| Expenses | $874 | $10,488 |
| Vacancy | $0 | $0 |
| Management | $0 | $0 |
| Cash flow | $-874 | $-10,488 |
| NOI | $-874 | $-10,488 |
Flip rule of thumb: buy at ≤ 70% of ARV minus repair costs.
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- Office17 Duffy Place, Suite 200, St. John's
Keller Williams Platinum Realty
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