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$ 4,500,000
Est. payment | /mo
48 Baths
6 SqFt
$ 4,500,000
Est. payment | /mo
48 Baths
6 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 6 sqft
Price per Sqft $750,000
Subdivision Cochrane
MLS Listing ID T12140454
Annual Tax Amount $59,952
Tax Year 2024
Property Sub-Type Investment
Property Description
Priced to sell, Motel and Restaurant businesses with land - A well maintained 43 ROOM MOTEL with 2 Apartments for the Owner/Manager & Staff to stay. Additionally, the property has a Restaurant (established 2 4 1 PIZZA with Liquor licence + extra space for adding another food franchise - used to have Quesada in the past) Total Area 6 ACRES, great potential for future development. Property is well situated facing right on Trans-Canada Highway 11 with 500 feet frontage in the growing town of Cochrane which is right in the mid-way of Toronto and Thunder Bay. Year-round profitable business, Snowmobile trail is passing through the property (equally busy in the winter months). Cochrane town is fast developing with many new businesses established in past few years. Current owners have been successfully managing this property since 2019. Great repeat customer base of tourists, workers, contractors, hunters, snowmobilers etc. and Evacuees through City due to flood, fire, storm etc. Employees run both businesses and both are profitable with the future potential to grow even more profit for the right buyer to add another food franchise beside the 2 4 1 Pizza. The motel was operating as Thriftlodge franchise until 2024. ***** OPTION for the BUYERS: The buyer can ONLY buy a Separate Restaurant Building along with existing 2 4 1 Pizza and 3 attached kitchenette Motel Rooms (see pictures) at a reasonable market price. Then the seller will sell remaining 40 Room Motel to another buyer by severance the land parcel.
Location
Province ON
County Cochrane
Community Cochrane
Area Cochrane
Interior
Cooling Yes
Exterior
Community Features Major Highway
Utilities Available Yes
Lot Frontage 499.92
Lot Depth 525.08
Listed by CENTURY 21 PEOPLE`S CHOICE REALTY INC.
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