LAKESHORE HOTEL KEEWATIN FOR SALE
Description
LAKESHORE HOTEL and BAR –Creating Memories for over 125 Years!
Laura Bartel
T: 204-612-9368
Description:
*Almost 10,000 square feet of prime commercial property on Portage Bay, Lake of the Woods.
*127 feet of waterfront on Lake of the Woods, including approximately six boat docks
*Well established bar operating for more than 100 years!
*Bar has featured many live music and private events
*New patio added in 2017 (2200 Square Feet)
*Exceptional view of Lake of the Woods
*Liquor license for 150 total capacity including patio. (118 inside) Operate yourself or lease it out.
*Engineer site plan approved by city of Kenora to convert the upper two levels of the hotel into eight suites, including two, two bedroom suites, four, one bedroom suites (two with bunk rooms). There is an additional two studio suites, each suite has a full kitchen and bathrooms.
*Six of eight suites designed to feature large, lake view balconies
*See more about Lake of the Woods by clicking the link:
https://www.northernontario.travel/fishing/10-facts-about-lake-of-the-woods
Additional Information Regarding Property Evaluation:
In 2017, we purchased 127 feet of waterfront on Lake of the Woods adjacent to the hotel. In addition, docking was added significantly increasing the value of the property. The docking enables guests to come and go by boat, and dock while on vacation. There are also two free public boat launches close by. During the same year we purchased half of Wharf Street to build a patio for additional seating at the bar.
Kenora area of Lake of the Woods is a well sought after area. Just two hours from Winnipeg, MB, rental accommodations are at full capacity during the entire summer season as there are limited accommodations available in the area. The presence of work crews in the area requires accommodations of this type year round, offering revenue on a consistent basis.
Revenues will increase if hotel renovations are completed. Estimated increase of $500,000 gross per year even without bar operations or lease.
This is a huge investment opportunity to own and operate a waterfront hotel & bar, or complete the project to sell for substantial profit!
Features:
1. Two Hours from Winnipeg and two and a half hours from Minnesota border.
2. Home to some of North Americas best fresh water fishing!
3. Beautiful sunset, lake, and marina views.
4. Accessible by land or water and located on snow mobile trails.
6. Close to schools, hospitals, and community center.
7. Only pub in Keewatin, great local following, large stage for live music & private events.
From the Owners:
Thank you for your interest in the Lakeshore Hotel.
We purchased the business in 2015 and it has provided an excellent life for our family. We are selling now because we have decided to move to Southwestern Ontario.
The hotel is listed for $749,000
The business can be much more prosperous with a clear vision and a new buyer with a drive to complete the plan already provided.
Closing date is negotiable
With a signed NDA I will send to you:
1. Financials for three years of bar operations
2. Engineer plans and city approvals of site plans for improvements and completion of upper levels.
3. Environmental Assessments and documentation for completion of the work.
4. Property Tax Information
5. Land Surveys.
6. Any additional information required.
- Ad Type: Offering
real estate | other
2023-06-26