289-237-8748
40
$2,200,000 Sale
Listed 3 days ago
12704 120 Street NW
· 0
· 0.0
· 125
· 15815
Key Facts
Key facts for 12704 120 Street NW
Property Type
Commercial
Parking
Garage: No, 125 parking
MLS #
45727793
Size
15815 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1941
Maintenance Fee
-
Description
DOVER HOTELA Multi-Revenue Hospitality & Commercial Investment OpportunityAn established hospitality property offering multiple income streams, over one acre of land, and significant value-add potential.Built in 1941, Dover Hotel combines hospitality, entertainment, retail, and real estate investmen...t opportunities. With several existing revenue sources and room for expansion, the property offers potential for an owner-operator or investor seeking to enhance income and unlock additional value.KEY INVESTMENT HIGHLIGHTS•Over 1 acre of land offering future development potential•22 guest rooms, with 12 currently operational•Opportunity to activate additional rooms following required electrical-system upgrades•30 VLTs providing an established entertainment revenue stream•Lounge and restaurant generating food and beverage revenue•Liquor store and convenience store providing additional retail income•ATM and guest room rental revenue•Three lots potentially available for separate sale, subject to applicable approvals•No asbestos in the building, potentially simplifying future renovationsMULTIPLE REVENUE STREAMSDover Hotel offers a diversified operating model combining:Lounge - Restaurant - Liquor Store - Convenience Store - VLTs - Guest Rooms - ATMThese complementary operations provide opportunities to generate revenue from hospitality, entertainment, food and beverage, and retail.SIGNIFICANT UPSIDE POTENTIALOf the 22 guest rooms, 12 are currently operational. The remaining rooms offer an opportunity to expand accommodation capacity following the required electrical upgrades.The propertys substantial landholding adds further investment appeal. Three lots may potentially be sold separately, subject to approvals and market conditions, providing an opportunity to generate capital or explore redevelopment options.OPPORTUNITY TO ADD VALUEAn incoming owner may explore opportunities to:•Expand room inventory and accommodation revenue•Modernize existing facilities•Optimize lounge, restaurant, and retail operations•Maximize the VLT operations potential•Evaluate the separate sale of three lots•Explore redevelopment or alternative uses, subject to zoning and municipal approvalsA COMBINATION OF BUSINESS & REAL ESTATEDover Hotel offers the opportunity to acquire an operating hospitality business alongside a substantial real estate asset with multiple existing revenue streams and identifiable value-add opportunities.For an owner-operator, it offers several complementary businesses under one roof. For an investor, it provides a platform to pursue operational improvements, additional income, and potential long-term real estate value.Dover Hotel — Established operations, diversified income, and room to grow. (id:10452)
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Listing courtesy of: RE/MAX Excellence
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