Motel In Cape Breton For Sale - Click for Details
Cape Breton, Nova Scotia
Easy to run 20 unit Motel, currently operated by husband and wife with some part time help. Property is located in close proximity to major thoroughfare, as well as surrounding amenities that support demand.
Fiscal Year End is March 31.
2019 - $180,000 (expected), based on 5 months year to date, and the busy summer season now complete.
2018 - $180,000. Total Seller's Discretionary Earnings are approximately $60k
2017 - $158,000
It is expected the buyer will have not less than $180k available for a down payment, closing costs, and operating costs.
Minimum Equity Required
Located on 4 acres of land and serviced with municipal sewer and water.
There have been over $100k in improvements the last 3 years, including the furnace, paving, upgraded 4 rooms completely, 4 rooms to hardwood flooring, changed carpet in 4 rooms, 9 rooms mattresses and bed frames from double to queen, all new flat screen TVs, paint, and more.
Non Disclosure Agreement
I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.
I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.
I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.
It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.
This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.