$2,490,000
0 N/A Whitecourt, AB T7S 1N8
10
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$2,490,000
Est. payment /mo
22,000 SqFt
Active
0 N/A Whitecourt, AB T7S 1N8
Key Details
Property Type Commercial
Sub Type Business with Property
Listing Status Active
Purchase Type for sale
Square Footage 22,000 sqft
Price per Sqft $113
MLS® Listing ID E4379153
Year Built 1979
Property Description
Located at the entrance of Whitecourt, this franchise hotel boasts both profitability and exceptional investment value. Situated on 2.2 acres of prime land, the property features 62 guest rooms, including 6 suites and 14 kitchenette rooms, a 60-seat lounge with 10 VLTs, a 92-seat restaurant, and a 60-seat banquet room with a party room accommodating 4 pool tables. The guest rooms cater primarily to long-term stays, with a focus on clientele from the oil and gas industry, while the bar and restaurant attract both locals and visitors alike. Since the onset of COVID-19, there has been a steady increase in revenue and income. The current owner has been operating the business for a decade since 2014 and is now looking to retire. With a staff of 18 employees, the business recorded $1.55 million in revenue for the fiscal year ending February 2023. (Given that the fiscal year for this corporation ends at the end of February, the revenue reported in the 2023 financial statements largely represents that of 2022.)
Location
Province AB
Community Whitecourt
Area Woodlands
Copyright 2024 by the REALTORS® Association of Edmonton. All rights reserved.
Listed by Jongsung Baik • Initia Real Estate
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