Business For Sale · Multifamily

11 Main Street, St.Brides

11 Main Street, St.Brides, Newfoundland & Labrador A0B2Z0

$375,000 total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

90%

Year Built

1968

About this property

Acquired in 1994, the Capeway Inn & Suites emerged from the historic Presentation Convent, transformed into a welcoming tourist facility. Located in the heart of an enchanting region, this property offers the most attractive accommodations closest to North America's easily accessible seabird colony at Cape St. Mary's Ecological Reserve. For nearly three decades, dedicated operators have nurtured this establishment into a thriving business, focused on providing guests with the utmost comfort and top-notch amenities in this beautiful area which is recognized as a 4 STAR property. The property has undergone significant renovations to preserve its historical significance while offering modern comfort. It comprises a total of 10 units, including 7 units equipped with kitchenettes and 2 units featuring two double-size beds, catering to a diverse range of guest preferences. This property offers the flexibility for the owner to reside on site, with a spacious 2-bedroom unit or another unit of their choice. Additionally, it provides eight other units available for rental purposes, catering to both tourism and long-term rentals. Close to Gooseberry Cove Provincial Park, Point Lance Sands, Ferry Traffic,Port of Argentia. Additionally, operating a coffee/tea shop with soups, sandwiches, and light lunches or even a full-fledged restaurant can complement our accommodations, enhancing the guest experience and revenue streams. The Capeway Inn & Suites represents an extraordinary opportunity in a region rich with natural beauty and potential for growth. This is not just a hotel; it's a turnkey investment. With minimal hassle and immediate returns, it's the ideal opportunity for both seasoned hoteliers and newcomers to the industry. Don't miss the chance to own a profitable hotel with everything in place to ensure your success from day one! (id:66811)

Financial sandbox

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Estimate
Purchase price$375K
Down payment30% · $113K
Interest rate6.25%
Amortization25 years
Occupancy90%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$16K

Annual cash flow

$-5K

Cash-on-cash

-4.43%

DSCR

0.76

Going-in cap

4.21%

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

46,817

Households

17,897

Median income

$87,500

Median age

43.2

Daytime population

68,441

5-yr growth

1.4%

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

Secure deal room

Confidential diligence documents for 11 Main Street, St.Brides.

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.