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I have listed a new property at 601 First Street West in Revelstoke.

Property Information
Address: 601 First Street West
Legal Description: Lots 5 to 10, Block 55, Plan 9504, Section 24 Township 22 Range 2 Kootnenay Land District.
Registered Owner: Moberly Holdings Ltd., Inc. no. 71124
Site Size: 29,607 square feet (300X100)
Improvement: 42 room motel with residence
Property Assessment: 2013
Land: $822,100
Improvements: $293,400
Total: $1,115,500
Property Taxes: 2007 Gross -$25,230.97
Zoning: C-1 (Central Business District)
Highest and Best Use: Commercial Uses as permitted under C-1 Zoning. Current motel Use.
Asking Price
$3,000,000
Most Recent Appraised Value
$3,000,000
done by Corrie Appraisals Ltd. on May 2, 2008.
Motel Website
http://www.revelstokelodge.com/
Description
The subject property is located in the City of Revelstoke at the north corner of First Street and Garden Avenue. 1 block west of Victoria Road, which is the main connector route between the Trans Canada Highway and the north sector of the City with the downtown core.


The subject site is comprised of six 50 ft. X 100 ft. lots and is roughly rectangular in shape with a total size of approximately 29,607 square feet. Frontage on First Street is 300 feet and on Garden Ave of 100 feet. The lot is basically level and at road grade. A very small triangular shape has been removed from lot 5 for an old road which no longer exists.


The complex consists of a 42 unit motel with residence and office in a mixed one and two storey building. The total main floor area is 7,004 square feet. The second floor is 6681 square feet for a total floor area of 13685 square feet. The age of the structure is unknown but appears to be circa 1960 to 1970. The exterior is painted concrete block. The roof cover is built-up tar and gravel.


The office has carpet and sheet vinyl flooring, and drywall lining. It has a 2 piece washroom.The living quarters are on the main floor. It has a kitchen, dining area, living room, 4 piece bath, and large bedroom. Finishing is newer laminate, carpet, and sheet vinyl flooring. Lining is drywall. The kitchen has a built-in dishwasher, oven and range top. The bedroom has an adjoining door to Unit #104 next door. Several motel units were inspected and the remainder are reported to be similar. Lining is drywall with carpet and tile flooring. Bathrooms are 3-piece with shower stalls only except for eleven units said to have bathtubs. All of the units have small fridges and microwaves. The units have been recently renovated and nicely decorated. Most have crown mouldings. Unit #112 does not have crown mouldings

nor new counter tops. Three other units are reported to be similar. Units #105 and #106 have bathtubs and are upgraded. Unit #216 has been completely renovated and is in good condition. The basement area is under two units and is 700 square feet. It has a concrete floor and a 7 foot ceiling height. It is used for storage. The remainder of the complex is on concrete slab. The laundry room has old tile flooring and is drywall lined. It has a newer commercial washer and older dryer plus newer residential-type dryer. An ice machine is in an alcove. The boiler room houses the propane fired hot water heating system and chilled water cooling system. There are two newer propane boilers and three hot water tanks. The cooling system is an older Carrier unit plus there is a newer cooling unit as well.

Each room has a radiator and fan. There is a small laundry on the second floor with residential-type washer and dryer. Access to the second floor units is via two outside stairways to a concrete balcony which extends the full length of the upper floor units. These stairwells are protected by a decorative block wall. A full length concrete sidewalk borders the main floor.

Attached to the office is a covered vehicle entrance. Next to that and bordering 1st Street is a concrete inground swimming pool with a deep end of 9 ft. A concrete patio surrounds the pool and it is enclosed by a glass panel railing. A pool shed houses a newer filter and gas heater as well as a piece washroom. Inset in the patio is a hot tub. Lined and paved parking and driveways cover most of the remaining lands. Generally, the building and rooms are in good condition. The exterior has been painted recently. The roof cover is quite new. The pool is repainted recently.

Estimated effective age is 20 years with a remaining economic life estimated at 40 years.

Income Information
Gross Operation Income (2012): $610,000 approximately.
Net Capital Rate (2012): $8.4% approximately.

物业信息

地址: 601 First Street West

法律描述: Lots 5 to 10, Block 55, Plan 9504, Section 24 Township 22 Range 2 Kootnenay Land District.

登记业主: Moberly Holdings Ltd., Inc. no. 71124

占地面积: 29,607 平方尺 (300X100)

建筑物: 42 房间的旅馆

政府估价信息: 2013年

土地: $822,100

建筑物 : $293,400

合计: $1,115,500

物业地税: 2007年总地税 -$25,230.97

市政规划区域: C-1 (中心商业区)

最好最用价值的用途: C-1市政规划区域下允许的商业用途. 现在的旅馆用途.

售价

$3,000,000

最近的估价报告

$3,000,000

Corrie Appraisals Ltd. 于May 2, 2008发表.

旅馆网站

http://www.revelstokelodge.com/

描述

本物业位于 Revelstoke市的北部角落 , First 街和 Garden 大道的交界, Victoria 路北面的一个巷口。 Victoria 路连接了市中心北部和横跨加拿大的高速公路。

本物业是由6块50尺×100尺的小土地块组成的。一共大概29,607平方尺,类似矩形。在First 街上的宽度为 300尺 , 而在Garden大道上的宽度为 100 尺. 这块土地基本上随着道路的倾斜状况而倾斜。为了一条废弃了的旧路,一个小三角形部分在第五块土地上被割除。

这栋大厦由42个旅馆住宿房间组成。办公单位在大厦的第一,二层。 楼层面积为 7,004 平方尺. 二楼的楼层面积为 6681 平方尺。 而总楼层面积为 13685 平方尺. 大厦的年龄不明确,但估计在1960 到1970 年之间。 外墙铺了水泥石块。屋顶被堆积的柏油和碎石覆盖。

办公室有地毯和乙烯基地铺,还有纸面石膏板内层。 有两个洗手间。 居住小区在主层。 有一个厨房,吃饭厅, 客厅, 4个洗澡间 和一个大房间。现有较新的夹木地板,地毯, 和乙烯基地铺。内层是纸面石膏板。厨房配有洗碗机, 烘炉和抽油烟机。房间有一个通向隔壁104房的门。

有几个旅馆单位被检查过,而剩下的单位也是相似。 内层是石灰板加地毯或者瓷砖。浴室有三部分包括了淋浴。 11号单位没有淋浴,而是一个浴缸。所有的单位都有小冰箱和微波炉。这些单位最近新装修和精巧地布置过。大部分都有皇冠镶嵌。112号单位没有皇冠镶嵌或新的柜台面。另外有三个这样的相似单位。 105号 和106号单位有升级了的浴缸。216号单位完完全全地重新装修,条件很好。

地下室是在两个单位的下面, 有700平方尺。有水泥地面和7尺高的天花。用作储物室。大厦其余的空间都是水泥后半。洗衣房有旧的瓷砖地板,也是石灰板内层。有比较新的商业洗衣机和旧的干衣机。 还有一个比较新的家用干衣机。 在凹室里有一个制冰机。 锅炉房里面安装了煤气热水系统和冷水冷却系统。有另个比较新的煤气过滤和三个热水箱。冷却系统是一个比较旧的Carrier机器。另外还有一个比较新的冷却机器。 每个房间都有一个暖气片和风扇。 在二楼有一个比较小的洗衣房,有对家用的洗衣干衣机。

二楼的单位是有大厦外面的两个楼梯通过水泥阳台进入的。这个水泥阳台增加了整层的长度。楼梯被别致装饰了的砖墙围着。 在主层的边上有水泥人行道围着。

有屋檐的车辆入口依附着办公室。 在这入口的旁边, 在First街的边上, 有一个水泥做成的9尺深游泳池。环绕着游泳池是一个水泥天井。天井被玻璃板包围着。 泳池小棚装了一个新的过滤器和天然气热水器 ,还有一个洗手间。 在天井上装了一个热水泡澡池。

土地的剩余表面大都是铺好了的停车位或汽车通道。

总的来说,大厦和房间的条件还是很好。 外墙在最近也被油漆过。屋顶也挺新。泳池最近都被油漆过。

估计有效年龄为20年,而估计剩下的经济寿命有40年。

收入信息

总运作收入 (2012): 大概 $610,000.

净收入:大概每年$255,000.

纯回报率 (2012): 大概$8.4%.

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