FOR SALE The Northern Hotel
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FOR SALE The Northern Hotel 561 2nd Avenue Fernie, BC Highlights ` 14,503 sq.ft., three-storey building ` Tenanted 4,180 SF bar & 1,820 SF restaurant. ` 19 suites on upper floors ` 7,880 sq.ft. lot zoned C-1 (Retail Commercial). ` 8.0% cap rate NAI Commercial Gary Haukeland J-D Murray 1075 W Georgia St, Suite 1300 Senior Vice President Senior Associate Vancouver, BC V6E 3C9 604 691 6693 604 691 6664 ghaukeland@naicommercial.ca jdmurray@naicommercial.ca +1 604 683 7535 *Personal Real Estate Corporation naicommercial.ca
Property Details Civic Address: 561 2 Avenue nd 561 2nd Avenue Fernie, B.C. V0B 1M0W4 Fernie, BC PID: 008-655-162 Legal: Lot 6, Block 14, District Lot 4588, The Opportunity Kootenay District Plan 734; The property represents an opportunity to acquire a free standing PID: 008-655-189 14,503 SF, two-storey 19 room hotel in Fernie, BC, with two retail Legal: Lot 7, Block 14, District Lot 4588, units on the ground floor, home to a 4,180 SF bar and 1,820 SF Kootenay District Plan 734; and restaurant. The improvements rest on a 7,880 SF lot. The hotel is located at 561 2nd Avenue, on the west side of the street, between 5th PID: 008-655-090 and 6th Streets in downtown Fernie, only blocks away from Highway Legal: Parcel A (See 181034I), Lot 5, Block 3 and close to all amenities. There is parking available in the alley to 14, District Lot 4588, Kootenay District Plan the rear of the building for up to four vehicles and the current zoning 734, Except Part Included In Plan 9947 for the property is C-1 (Retail Commercial). The building has heritage PID: 025-921-398 status. The subject property was built in 1908, as a hotel, however now the property operates as monthly rental apartments with several SRO suits and approximately 7 suites with private bathrooms and Property Tax (2020) kitchenettes, that rent for between $350 and $950 per month $14,765.76 respectively. Although the floorplans show 19 “rooms”, only 12 are available for rent. The two retail spaces on the ground floor are Price occupied by the Lunch Box restaurant and the Northern Bar & Stage. $1,395,000 The Lunch Box currently leases for $10/SF ($18,200 per annum) + GST (term expiring on December 31, 2020) and the Northern Bar & Stage leases for $13/SF ($54,340 per annum) + GST (term expiring on May 31, 2021). In addition, both retail tenants pay proportionate shares of property tax, licensing fees and other expenses equal to 12% for the Lunch Box and 27.87% for the Northern Bar & Stage. Location The property is located at 561 2nd Avenue, on the west side of the street, between 5th and 6th Streets in downtown Fernie.
FOR SALE The Northern Hotel 561 2nd Avenue Fernie, BC NAI Commercial Gary Haukeland J-D Murray 1075 W Georgia St, Suite 1300 Senior Vice President Senior Associate Vancouver, BC V6E 3C9 604 691 6693 604 691 6664 ghaukeland@naicommercial.ca jdmurray@naicommercial.ca +1 604 683 7535 *Personal Real Estate Corporation naicommercial.ca
WITHIN 1KM RADIUS ELK VALLEY HOSPITAL 1. Save On Foods 2. BC Liquor Stores 3. Blue Toque Gastro Diner 9 4. Big Bang Bagels 5. Fernie Museum 6. Yamagoya Sushi 7. Curry Bowl 8 8. Fernie Pizza & Pasta 9. A&W Canada 10 10. Red Apple CROWSNEST HWY 2ND AVE 11. Spa 901 12. Fernie Memorial Arena 12 13. Fernie Community Centre 11 14. Kodiak Lounge 7 13 15. The Pub Bar & Grill 14 1 15 6 2 Fire Department SUBJECT 3 PROPERTY 4 5 Gary Haukeland* J-D Murray Senior Vice President Senior Associate 604 691 6693 604 691 6664 ghaukeland@naicommercial.ca jdmurray@naicommercial.ca *Personal Real Estate Corporation NAI Commercial 1075 W Georgia St, Suite 1300 Vancouver, BC V6E 3C9 No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject +1 604 683 7535 to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein naicommercial.ca are any to be implied. Aerial & streetview images courtesy of Google, DigitalGlobe.
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