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Business For Sale · Hospitality

308 Railway AVENUE E, Spiritwood

308 Railway AVENUE E, Spiritwood, SK S0J2M0

$674,900 total

6,240 SF

Asset Class

Hospitality

Size

6,240 SF

Building class

B

Zoning

CHY — Highway Corridor

$ / SF

$108

Occupancy

90%

Year Built

1973

Lot Size

0.73 ac

About this property

Spiritwood Carlton Inn is a motel with prime location along highway 3 in Spiritwood, SK. The motel was built in 1973 and has been in operation since. There are 14 rooms for rental as well as a suite for living quarters if the owners need or can be used as staffing area. There are laundry facilities on site, each room is air conditioned and independently heated, and some rooms have kitchenettes as well as a couple rooms have ability to adjoin. The roof was redone in 2014 and in 2019 there were many updates completed including furnishings in the rooms, some of the bathrooms, and the water heating system. The motel sits on 3 commercial lots along Highway 3 with over 201' of highway frontage, as well as a residential lot measuring 50'x125'. This is an asset sale only. Annual taxes for both commercial and residential lots are paid to the Town of Spiritwood with a total of $5356 for 2026 tax year. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$675K
Down payment30% · $202K
Interest rate6.25%
Amortization25 years
Occupancy90%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$37K

Annual cash flow

$-130

Cash-on-cash

-0.06%

DSCR

1.00

Going-in cap

5.52%

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
Meridian Health Group3,467 SF2033-10
Meridian Health Group1,333 SF2033-10
Meridian Health Group841 SF2033-10

Area demographics

Trade area within 3 miles of the property.

Population

62,846

Households

23,987

Median income

$124,000

Median age

33.9

Daytime population

85,530

5-yr growth

6.3%

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

Secure deal room

Confidential diligence documents for 308 Railway AVENUE E, Spiritwood.

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.