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Listing ID: 2721481

Historic Restaurant And Hotel With Residence For Sale

Grand Bank, Newfoundland and Labrador, Canada

CA$ 325,000

(Furniture / Fixtures and Inventory / Stock included)
(Real Estate Included)

Revenue: CA$ 100k to 250k

Cash Flow: CA$ 0 to 100k

Business Description

This property is a Chefs dream. For an owner / operator, it doesn't get any better than this. Fresh air is in abundance at this ocean front property.

This 100 year old Canadian recognized heritage home is a beautiful Queen Anne style home with lots of history and tons of beauty. This house features a beautiful glassed in front porch, an upper deck to sit out on and watch the whales go by, and also the top roof features an authentic widow's walk.

The first floor is a 26 seat casual fine dining Restaurant. The restaurant currently features a menu with Steaks, Seafood and pasta. This restaurant is established as the best restaurant in the region. The second floor features 4 Hotel rooms, all with ensuite washrooms. The third floor provides an additional 3 hotel rooms for guests or as currently and can be the residence of the owner / operators.

This property has the ability to easily to supply adequate income for a great lifestyle. A huge feature is the extremely low taxes. All municipal taxes, including business and property taxes. The water bill is less than 5000 per year.

For inquiries, contact us for more details.

Property Details

Size:

4000 Square Feet

Years Established:

100 Years

Property Type:

Real

FF&E:

CA$ 30,000

Inventory Value:

CA$ 5,000

Real Estate Value:

CA$ 350,000

Other Details

Premise Details:

The house is in very good original condition and shows very well. Exterior has just been painted. The house looks like a million bucks. Hardwood floors on first floor, softwood floors throughout. Water radiator heating with back-up electric heat. New oil tank and new commercial dishwasher.

Competition:

There is no other casual fine dining within hours. We are the go to for all locals who are looking for a special meal. This local region has about 15,000 citizens.

Expansion Potential:

Restaurant has ability to expand into additional room and front porch to accommodate 42 patrons. Hotel has ability to increase from 4 hotel rooms to 7.

Living Accommodation?

Yes
Living Accommodations can be wherever your heart desires, within premises but it's up to you. Accommodations in a restaurant and hotel allow owner/operator to write off many or all expenses.

Operation Details

Employees:

3

Trading Hours:

Evening dinners for restaurant and year round accommodations. An enthusiastic owner operator could increase income by opening full time.

Miscellaneous

Reason For Selling:

Other business interests which are pulling us away from area.

Contact this seller

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