$300 K reduced ; openhouse May 4th, 2024 11 am to 4 pm ; This sounds like a promising opportunity for someone looking to invest in or operate a motel business in Innisfail. Here's a breakdown of the key points and considerations:Location: Being situated conveniently on the side of Highway #2 can be a significant advantage for attracting travelers and passing traffic. Innisfail's location likely offers a steady stream of potential customers, especially if it's on a well-traveled route.Property Size: With 1.87 acres of commercial land, there's ample space for the current operation as well as potential future expansion or development projects. This could include adding amenities, improving landscaping, or even constructing additional rooms or facilities.Business Model: As a non-franchise motel, there's flexibility in operations and branding. This can be appealing for those seeking a family-owned business with more autonomy and control over decision-making processes.Room Configuration: The motel's 44 rooms, including 21 with kitchenettes, cater to different guest needs, from short-term stays to longer monthly or weekly rentals. Having a mix of accommodations can help attract a diverse clientele.Manager's Suite: The inclusion of a manager's suite with a full-fledged kitchenette and garage provides on-site living arrangements for management, which can be convenient for overseeing daily operations.Recent Renovations: The recent renovations, including updates to the interior rooms, roofs, boilers, and hot water tanks, indicate that the property has been well-maintained and may require less immediate investment in infrastructure.Client Base: The motel's reputation as one of the economical options in the area with a sizable client base, especially with monthly/weekly long-term guests, suggests a stable income stream.Investment Opportunity: Whether as an investment property or a family-run business, the motel offers potential for generating revenue and buildi ng equity over time.Potential buyers or operators should conduct thorough due diligence, including financial analysis, market research, and inspections, to assess the viability and profitability of the investment. Additionally, exploring potential growth opportunities and understanding local regulations and zoning requirements for future development plans is crucial. (id:27476)
