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Joseph Wong
Broker, MBA, FRI, CRES
Calgary,
Alberta, Canada
Contact Information:
Cell: (403) 680-8611
Res: (403) 208-2889
Fax: (403) 208-2388
Email Address:
josephwong@realtymail.net
or
jojocan2001ca@yahoo.ca
Want to know more about Joseph Wong and how he can help you with any
real estate needs?
>> Click here for more information
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 The room rates are as follows:
during summer's months, the rent is $69 a day and if the business is
slow, rent can be reduced to about $60.00 a day. During winter's
months, the rent is about $50.00 a day. There is a very good demand for
hotel rooms in town.
All the 23 units (except the
manager's suite) are equipped with individual air conditioning units and
there is an elevator to be installed on the main floor.
This motel has been appraised at
$1,124,000.
This motel is available for sale
at either $1.38 million dollars or for lease at $7,000 a month plus
utilities. In the case of purchase, the buyer may be able to obtain a
first mortgage from BDC (Business Development Corp) of 50-60% of the
 purchase price and the seller may be able to carry a 2nd mortgage, if
the buyer is able to put down at least 20% of the purchase price. In
the case of leasing (just the portion of the motel only, excluding the 3
retail spaces), the seller would like to lease it to a qualified person
at $7,000 per month plus utilities and whoever leases it has to come up
with a deposit of $30,000 and first and last months' rents and sign a
lease. Terms and conditions of the lease is fully flexible and
negotiable.
The main reason for the owners
to sell this motel is as a result of a mutual agreement to break up the
partnership.
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