- Name of Business: Silverado Inn
- Owner Company: Suede Investments Ltd.
- Property Address: 10100 10 St, Dawson Creek, BC V1G 3T2
- Legal Description: LOT 13, BLOCK 2, PLAN PGP2244, SECTION 15, TOWNSHIP 78, RANGE 15, MERIDIAN W6, PEACE RIVER LAND DISTRICT
- P.I.D: 004-539-044,004-539-052, 004-539-061, 004-539-079, 004-539-036
- Zoning: C3
- Land Size: 21,900 Square Feet (0.5 Acre) (182 Ft. x 120 Ft.)
- Net Leasable Area: 16,348 Square Feet
- Storey of Building: 4 Storey (3 floors above ground and 1 basement level )
- Built-in: 1954
- Facilities: 6 Retail Units (Currently 5 Units Rented) / 46 Furnished Guestroom s (Incl. 20 Kitchenette Units and 3 units are being used by the management) / Elevator (Pending final inspection, To be fully operative around Spring 2020)
- Current Retail Tenants: Pub, Restaurants, Cannabis Store, Gym & Clothing Store, etc.
- Features: Central Downtown Location, Corner Site, High Visibility
- Street Exposure, Flat Site, Wifi Internet
- Heating: High-Efficiency Furnace
- Hydro (Electricity): Three Phase
- Water & Sewer: Municipal Water & Sewer
- Assessed Value: $1,907,200 (2020)
Annual Rental Income: Approx. $447,000 (2 Years Average of 2018 & 2019)
Annual Expenses: Approx. $200,000 per year (2 Years Average of 2018 & 2019)
Annual Cash Flow: Over $247,000 per year
Cap. Rate: Over 10 % (On Asking Price)
- Manager Suite
Very Profitable Rental Income 46 Room Hotel & 6 Commercial Retail Units in Dawson Creek (10% Cap Rate)
SILVERADO is going very strong through COVID-19 and Dawson Creek is all ready to go to become a booming town again!
Currently (mid-July 2020), there are about 30 guestrooms (out of 46) occupied by long-term extended-stay guests and they’re selling additional 5 to 10 rooms nightly as well. All existing commercial retail tenants are all back operating their businesses right now.
Reduced Asking Price: $2,350,000 (Share Sale)
BEST LOCATION! GREAT PROFIT! STABLE INCOME!
Amazing over 10% Cap. Rate Rental Income
Without Headaches and Stress
from Typical Hotel Management!
Silverado Inn is situated right on the busy Alaska Ave. (Hwy. 97) in the best corner of Dawson Creek. It’s surrounded by many hotels, restaurants, shopping, banks as well as Tourism Centre and Art Gallery offering lifestyle and convenience to its customers and guests.
Silverado Inn currently produces a stable retail lease income of over $190k/Yr from 6 commercial units (Pub, Restaurant, Gym, Thrift Store and a Dispensary) and also generates a profitable rental income of approx. $250/Yr from 46 furnished extended-stay guestrooms (incl. 20 kitchenette units and currently 3 units are being used by the management) on the 2nd & 3rd floor providing convenient downtown lifestyle options to the travelers and locals. The current management has been continuously improving the building over the years and successfully transformed it into a lively and vibrant place to visit for the local residents and a great place to stay for the long term guests.
The true beauty of Silverado Inn is a fact that it is a hotel property but being operated as a typical rental income property such as retail commercial lease and an apartment block so it only requires a minimal efforts and cost for the operation, yet the owner team can maximize the tax planning strategy by the expense write-off, unlike the strict rental income properties.
Dawson Creek is one of the major hub-city which plays a very important role in the northern BC economy with the agricultural and tourism sector as well as the anticipated natural gas industry energy sector and it is forecasted that the city will prosper through the series of booming stages in the next decades.
Great rental income property located in the prime downtown at the busy corner site in Dawson Creek.
A great mix of 6 retail commercial units and 46 extended stay type of guestrooms generating excellent cash flow of $247,000 annually with only one full-time employee.
This is a very rare opportunity that you can find in the market. In addition, Dawson Creek is experiencing the bottom of its economic cycle which means that it only can get better.
For more information including pertinent financial or internal information, please click the link below to download the “Confidentiality Agreement”.
Then please sign and forward it back to us by email: email@example.com or firstname.lastname@example.org.
For more information, please contact John Yun at 604-500-4339 / email@example.com or David Seo at 306-730-9871 / firstname.lastname@example.org asap!