Business For Sale · Hospitality

24 Water St, South Bay Mouth

24 Water St, South Bay Mouth, ON P0P1Z0

$999,000 total

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Asset Class

Hospitality

Size

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Building class

C

Zoning

CHY — Highway Corridor

$ / SF

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Occupancy

97%

About this property

Huron Motor Lodge. A rare opportunity to acquire a landmark hospitality business in the heart of South Baymouth, Manitoulin Island. Family-owned and meticulously maintained for more than 60 years, this well-established seasonal operation features an 18-unit motel, café, and gift shop, all prominently located directly across from the Chi-Cheemaun ferry terminal. Positioned at one of Manitoulin Island's busiest gateways, the property benefits from thousands of visitors arriving and departing each tourist season aboard the ferry service connecting South Baymouth and Tobermory. Guests enjoy spectacular views of Lake Huron and convenient access to the village's many attractions, including the modern 70-slip public marina, museum, hiking trails, restaurants, fishing charters, and recreational amenities. The property also features an inground swimming pool, providing added comfort and enjoyment for guests throughout the season. With a long-standing reputation, exceptional visibility, and a prime waterfront village location, this is an outstanding investment opportunity for those seeking an established tourism and hospitality business on Manitoulin Island. (id:66811)

Financial sandbox

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Estimate
Purchase price$999K
Down payment30% · $300K
Interest rate6.25%
Amortization25 years
Occupancy97%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$69K

Annual cash flow

$13K

Cash-on-cash

4.43%

DSCR

1.24

Going-in cap

6.87%

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

91,749

Households

39,601

Median income

$101,000

Median age

32.1

Daytime population

149,244

5-yr growth

1%

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

Secure deal room

Confidential diligence documents for 24 Water St, South Bay Mouth.

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.