Land for Sale Summerland - Waterfront Lots For Sale in Summerland

Magnuson Hotel 800 Northwest Boulevard Creston, B.C. Creston ( British Columbia, CA ) Built

$2,575,000 CAD
Cap Rate >8

Property Finders

Amy XU Amy XU 2508994888 (Cell) Request More Info

  • Type: Commercial
  • Style: 2 Storey
  • Development Level: Built
  • Lot Size: 1 acres
  • Taxes: $37,228.11 CAD (2018)

Description

Building:
were replaced in
2013
The building has stucco siding.
The restaurant building has a rooftop HVAC for heat and air conditioning
Rooms:
51 Units
15 have kitchens
3 suites
3 rooms with king sized beds
All rooms have PTAC units
All rooms have hardwood floors and tile
Restaurant Lease:
Commenced October 2017
5 Year with a 5 Year option
Base rent is $4,500 plus 25 % of utilities and property tax, 40% of garbage and 30
% of water which is approximately $ 2,500 / month.
Magnuson Hotel
The property has an affiliation with Magnusson Hotels, which brands properties.
Currently they are not paying any royalties, the Seller is negotiations with them to
structure a new deal.
Owner / Manager Suite:
2 bedrooms
1 bathroom
Kitchen
Living Room

Attachments

P2#343071095
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Information is deemed to be correct but not guaranteed.

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