1 Water Street, Little Current1 Water Street, Little Current — photo 21 Water Street, Little Current — photo 31 Water Street, Little Current — photo 41 Water Street, Little Current — photo 51 Water Street, Little Current — photo 61 Water Street, Little Current — photo 71 Water Street, Little Current — photo 81 Water Street, Little Current — photo 91 Water Street, Little Current — photo 101 Water Street, Little Current — photo 111 Water Street, Little Current — photo 121 Water Street, Little Current — photo 131 Water Street, Little Current — photo 141 Water Street, Little Current — photo 151 Water Street, Little Current — photo 161 Water Street, Little Current — photo 171 Water Street, Little Current — photo 181 Water Street, Little Current — photo 191 Water Street, Little Current — photo 201 Water Street, Little Current — photo 211 Water Street, Little Current — photo 221 Water Street, Little Current — photo 231 Water Street, Little Current — photo 241 Water Street, Little Current — photo 251 Water Street, Little Current — photo 261 Water Street, Little Current — photo 271 Water Street, Little Current — photo 281 Water Street, Little Current — photo 291 Water Street, Little Current — photo 301 Water Street, Little Current — photo 311 Water Street, Little Current — photo 321 Water Street, Little Current — photo 33
1/33
Business For Sale · Hospitality

1 Water Street, Little Current

1 Water Street, Little Current, ON P0P1K0

$1.4M total

—

Asset Class

Hospitality

Size

—

Building class

B

Zoning

CB2 — Central Business

$ / SF

—

Occupancy

96%

About this property

The Anchor Inn stands as a remarkable 136-year-old landmark business in the heart of Little Current on Manitoulin Island. Strategically positioned across from the bustling town docks in the downtown core, this iconic establishment has become a cornerstone of both the local community and the island's tourism industry. This thriving business currently features a vibrant and spacious dining room/restaurant, a popular bar that draws both locals and visitors, professional catering services, and 17 well-maintained rental units. The Anchor Inn boasts impressive financial performance with strong cash flow, making it an exceptional investment opportunity. It currently is open 5 days a week providing the potential to expand sales. Under both current and previous ownership, the property has received consistent upgrades and maintenance, preserving its historic charm while ensuring modern functionality. As a mainstay of Manitoulin Island's hospitality scene for over a century, The Anchor Inn represents a rare chance to acquire an established business with a rich heritage and proven success. Could this historic waterfront property be the golden business opportunity you've been searching for? (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.45M
Down payment30% · $435K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$92K

Annual cash flow

$12K

Cash-on-cash

2.78%

DSCR

1.15

Going-in cap

6.38%

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

42,988

Households

16,768

Median income

$78,000

Median age

42.6

Daytime population

63,399

5-yr growth

5.9%

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

Secure deal room

Confidential diligence documents for 1 Water Street, Little Current.

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.