Attractive Motel And Licensed Restaurant In Sherbrooke For Sale

Business description

** Seller Financing Available to Qualified Buyers.
- Seller will provide 100% financing with a 35% down payment, O.A.C.
- 2 year interest only facility to allow the purchaser to get comfortable in the business, followed by a 3 year term of
blended payments of Principle and Interest based on a 20 year amortization.
- Balloon payment at the end of year 5, or option to renewal mortgage with Seller.

Perhaps the best opportunity in Nova Scotia for a true entrepreneur to acquire a long time successful accomodations business at a fraction of its current Asset value. This updated property provides for 19 extremely clean rental units plus a 55 seat renovated licensed dining facility steps from the world renowned St. Mary's River. Of the 19 rentals, there are 13 clean and well kept motel rooms, 2 efficiency units, 3 cabins, and a 3 bedroom rental home all sitting on a 5.5 acre parcel and located within walking distance of all amenities. The property has excellent appeal for the leisure, sporting, motorcyclists, and educational travelers as well as families wanting to “get away from it all”. There are many area attractions for a wide variety of interests, with untapped potential in numerous segments.

At a quiet location in the community, the property is positioned as a safe, clean, friendly, hospitality service provider with Banking, Liquor, Police, Hospital, Schooling, Grocery, Hardware, etc., are all within minutes of the property. The property is well-equipped for parking cars, trucks & busses. The original building was well constructed by a Navy Commander in the 60’s and an expansion was completed approximately 15 years ago. The property is considered to be in excellent condition for its intended use, is considered to be extremely well built, and is fully equipped with Wireless High Speed Internet, T.V.s, and provides all the amenities and services of a desirable location you would recommend to your friends and family.

Has been managed by one of the two owners, in large part, and therefore management will need to be addressed upon sale.

Property information

Real Estate:

Real Property Included

Location:

The owners always believed, and have proven to many over their past 30+ years of ownership, that the Sherbrooke Village Inn is the best choice destination for “valued” accommodations and above average food offerings anywhere in Guysborough County. Given the owners’ age, their current family and living situation, as well as other local business interests, the owners have chosen to operate the business for the past several years only 7 – 8 months per year (April – November). There is a tremendous opportunity for growth in revenues and profitability through strategic and focused marketing efforts as well as an expense reduction framework that could be implemented from day 1 with the right ownership structure at the helm. Because of its location, comfortable and cleanly accomodations, and choice offerings, the Sheerbrooke Village Inn should be a year-round property. Your research to understand the competitive offerings within a 50+ mile radius market place should prove the upside possibilities we believe to exist, which are only limited by business experience.

Business Operation

Expansion potential:

Expansion potential limited only to entrepreneurism. Numerous opportunities to reduce expenses have been identified, costing little to no money. Top-line growth opportunities considered to be above average. Here is the foundation from which you have to start from.

16% revenue growth from 2006 through to 2010. 3 year average gross revenues of $255,000. (7 months of operations) have been achieved with a single owner/operator on little marketing efforts.

Approximately 45% of gross revenues generated from Restaurant operations.

More than $80,000 spent on improvements in past 5 years. (roofing, flooring, furniture, windows, doors, insulation, paint, etc.)

Industry comparables indicate current asset value of this opportunity may be in excess of $900,000, with replacement costs in excess of $1,000,000.

Reasons for selling:

Retirement (64 and 61 years of age, 30+ years as owners)

Trading hours:

Closed 5 months of the year, by owner choice

Years established:

30+

Other information

Support & training:

More so than most. Owners live and will be staying in the community. Seller willing to work with buyer over first season.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Owner financing available, to be qualified, based on experience and business plan.