Gibsons Development Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30432100
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 62,002 SF
Gross Building Area: See Agent
Sale Price: $6,000,000
Unit Price: $96.77 PSF
Property Use Type: Business
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 6/22/2019

Overview / Comments

Gibson’s 3 Lot Land Assembly/Development Opportunity (Totaling 141,000 sf), 895 Gibsons Way, V0N 1V7, 62,000 sf lot (The Cedars Inn Hotel and Convention Centre - Not Flagged) across the street from Sunnycrest Mall. 7 min drive from the Langdale Ferry Terminal on the Sunshine Coast. 45 rooms with a 4000 sq/ft convention ctr incl an outdoor pool & hot tub & small gym. The property was painted 3 years ago, and improvements include replaced TVs, AC units, new modern bedding, hotel fridges, & key entry system. The property also has an extra 15K SF of buildable space to increase number of rooms or rental accommodation but value mostly in land. Government & corporate clientele assures steady income of $650K/Year with potential for $1M after a good facelift and Flagging with a major chain. Expenses approx. 40%, (Note, 909 Gibsons Way next door – 30,000 sf lot is also on MLS at $1.5M). Both Sellers also open to a JV, Please go to listing agents web site for Video, info package and site map.

Additional Details

Regional District: Sunshine Coast
Parcel ID: 005-542-987
Property Visibility: Good

View FullscreenMap


Contact

Photograph of Listing Agent

Les Twarog

RE/MAX Crest Realty Commercial First Member
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Real Estate Board of Greater Vancouver nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.