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For Sale · Hospitality

307 Railway AVENUE, Springside

307 Railway AVENUE, Springside, SK S0A3V0

$149,000 total

4,220 SF

Asset Class

Hospitality

Size

4,220 SF

Building class

A

Zoning

CHY — Highway Corridor

$ / SF

$35

Occupancy

93%

Year Built

1954

Lot Size

0.35 ac

About this property

Excellent investment opportunity priced to sell! Hotel California, currently closed, was previously a profitable, renovated hotel, bar, and restaurant located in Springside, SK, along the Yellowhead Highway #16, just 25 km from Yorkton and 25 km from Good Spirit Lake Provincial Park. The property features four upper-level guest suites. The main floor includes a bar/restaurant with seating for 60, a large, fenced patio, and was previously operated with VLTs, an ATM, and an SLGA off-sale liquor licence. The lower level offers a spacious owner’s suite complete with a living room, bedroom with walk-in closet, and full bathroom. The property has benefited from numerous upgrades over the years, including a metal roof, fenced patio, updated lighting, and air conditioning units in the hotel rooms. The gas tank located beside the property is included in the sale. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$149K
Down payment30% · $45K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$688

Projected NOI

$10K

Annual cash flow

$1K

Cash-on-cash

3.04%

DSCR

1.16

Going-in cap

6.45%

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.

Rent roll (estimated)

TenantAreaExpiry
Blue Harbour Design1,708 SF2029-02
Blue Harbour Design961 SF2029-02
Blue Harbour Design542 SF2029-02
Blue Harbour Design713 SF2029-02

Area demographics

Trade area within 3 miles of the property.

Population

77,571

Households

32,092

Median income

$78,000

Median age

39.9

Daytime population

123,471

5-yr growth

3.9%

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

Secure deal room

Confidential diligence documents for 307 Railway AVENUE, Springside.

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.