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846 KING STREET E, GANANOQUE
2024-05-05
Quick Summary
- Location
- 846 KING STREET E, GANANOQUE, Ontario K7G1H3
- Price
- $6,999,000
- Status:
- For Sale
- Property Type:
- Business
- Area:
- 9ft2
- Bathrooms:
- 80
MLS®#X8307104
Property Description
78 ROOM HOTEL ""RAMADA BY WYNDHAM"" for Sale in heart of Gananoque getaway to the 1000 ISLANDS just east of Kingston, Ontario. All Rooms have been fully renovated and upgraded during the last 4 Years, The Owner has spent over $1.2 Million in renovation and upgrades. The Hotel is spread over 9 acres of commercial gateway zoned land right off the 401. The huge commercial lot offers great opportunities for future development and is conveniently located less than a minute off the highway. Located near the Shorelines Casino & the 1000 Islands cruise line, the hotel stays very busy from June to October as the region attracts many local and international visitors. The hotel also accommodates groups and tour buses from all over the world. The hotel is just minutes away from restaurants, grocery stores, schools, banks, and LCBO and about a 15-minute drive from the Hill Island border to USA. Currently the swimming pool is under renovation (will be ready in few weeks at about $125K costs). The seller has recently done an appraisal in April 2024 by a bank approved ACCI appraiser and the listing price justifies the market value of the property. The selling price is under $90,000 PER KEY with the CAP RATE over 8.5%. Smart investors don't miss the opportunity to grab this 78-rooms hotel sitting on over 9 acres of land. **** EXTRAS **** Accountant prepared financial statements and other confidential documents will be provided after the offer acceptance. Income and expenses summary will be provided to the qualified buyers upon signing the confidentiality agreement. (id:32467)
Property Features
Ammenities Near By
- Ammenities Near By: Highway
Building
- Cooling Type: Fully air conditioned
- Fireplace: No
- Interior Size: 9.063 ac
- Utility Water: Municipal water
Features
- Feature: Irregular lot size
Land
- Sewer: Sanitary sewer
Zoning
- Description: Commercial- Hotel
Information entered by CENTURY 21 PEOPLE'S CHOICE REALTY INC.
Listing information last updated on: 2024-09-04 03:58:58
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Your One Percent Realty Commission savings†
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We charge a total of $7,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,950. For residential properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer's agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact a One Percent agent directly or fill out the market evaluation form on the bottom right of our website pages and a One Percent agent will get back to you to discuss the particulars.
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Jeff Feaver REALTOR®
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- 613-413-6877
- Mobile:
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- Email:
- jfeaver@gmail.com
- Support Area:
- Kingston, Greater Kingston Area, Odessa, Westbrook, Central Kingston, Kingston Ontario, Greater Kingston Area., Bath, Gananoque, Harrowsmith, Sydenham, Amherstview
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