For Sale · Hospitality

5032 Caxton St W, Whitecourt, AB T7S 0B8, Canada, Whitecourt

5032 Caxton St W, Whitecourt, AB T7S 0B8, Canada, Whitecourt, AB T7S0B8

$2.4M total

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Asset Class

Hospitality

Size

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Building class

C

Zoning

CB2 — Central Business

$ / SF

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Occupancy

96%

Lot Size

0 ac

About this property

The Ritz Cafe & Motor Inn is a motor inn property located along Hwy 43 in Whitecourt. The property includes a main building with guest rooms, restaurant area, lounge area, meeting room, reception area, self-service laundry, and VLT area, plus a separate single-storey annex building with additional guest rooms.The site is approximately 2.84 acres and is zoned C-3 Highway Commercial District. The property offers frontage along Caxton Street, access from 34 Avenue, municipal services, and on-site parking for guests, restaurant patrons, and commercial vehicle traffic.The main building was originally constructed in 1979, with later additions completed in the 1980s. The annex building was added in 1997 and includes guest rooms with updated bathroom fixtures and lighting. The property is positioned on the west side of Whitecourt with highway commercial, light industrial, and residential uses in the surrounding area. Existing C-3 zoning may allow for additional commercial use or development, subject to municipal approval. (id:66811)

Financial sandbox

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Estimate
Purchase price$2.40M
Down payment30% · $720K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$11K

Projected NOI

$178K

Annual cash flow

$45K

Cash-on-cash

6.24%

DSCR

1.34

Going-in cap

7.41%

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

138,379

Households

56,030

Median income

$122,500

Median age

37.1

Daytime population

191,824

5-yr growth

6.2%

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

Secure deal room

Confidential diligence documents for 5032 Caxton St W, Whitecourt, AB T7S 0B8, Canada, Whitecourt.

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.