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: 9/10/2020

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

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Photograph of Listing Agent

Les Twarog

RE/MAX Crest Realty (W7) Commercial First Member
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