For Sale · Hospitality

607 Lakeshore Drive, Cold Lake

607 Lakeshore Drive, Cold Lake, AB T9M1B1

$1.3M total

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Asset Class

Hospitality

Size

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Building class

C

Zoning

CB2 — Central Business

$ / SF

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Occupancy

96%

Lot Size

0.32 ac

About this property

Overlooking Cold Lakes Marina, the brand new Boardwalk Promenade on Lakeshore Drive, and stunning views of one of Alberta’s most beautiful and clean lakes, stands the Waterfront Harbour Bed & Breakfast. Beautifully landscaped and complete with a plum tree, two apple trees, and a crabapple tree. In 2018 the Waterfront Harbour was named one of Trivago’s top 10 Bed and Breakfasts in Canada. With over 4,600 square feet, the Waterfront Harbour has a total of 9 bedrooms, 8 bathrooms, two kitchens, two dining rooms, multiple living area spaces, and three outdoor patios/decks. Pride of ownership shines through with beautiful custom cabinetry, impeccable upkeep, and polished hardwood and ceramic flooring.The Waterfront Harbour Bed & Breakfast features 5 guest suites with private bathrooms as well as a large 2 bedroom / 2 bathroom suite with full kitchen, presently used as the owner’s suite: -Main floor guest suite with private bathroom and direct access to the front deck -2 Bedroom / 2 Bathroom Suite with full kitchen in the rear of the main level -Three 1 bedroom guest suites (all with private bathrooms) on the second floor - two with access to the upper deck, overlooking Cold Lake -3 bedroom guest suite on the 3rd level with private bathroomCompleting the property is a 4-car detached garage and tons of additional outside parking. This is an incredible opportunity to own a landmark property in Cold Lake and live and work on the lake! (id:66811)

Financial sandbox

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Estimate
Purchase price$1.32M
Down payment30% · $398K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$6K

Projected NOI

$103K

Annual cash flow

$30K

Cash-on-cash

7.48%

DSCR

1.40

Going-in cap

7.78%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

67,765

Households

30,423

Median income

$112,000

Median age

45.8

Daytime population

101,746

5-yr growth

5.1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 607 Lakeshore Drive, Cold Lake.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.