Office Listing

Cindy Raskob, Sales Representative  |  John Raskob, Sales Representative  |  Brad Johnstone, Broker of Record


Remarks

BUSINESS & BUILDING! Rarely does an investment property such as this come along that is so exciting and profitable! Introducing the Fonthill Inn, one of Niagara's premier boutique inns offering 11 units/suites. This uniquely crafted high income producing business will appeal to the commercial investor who wants an attractive CAP rate with relatively low owner/operator maintenance. 7 suites are fully turnkey furnished for shorter-term stays averaging between 2 to 6 months yet guests have stayed for up to 2 years based on their circumstance and requirements (between homes, career contracts, house insurance claims, etc). The other 4 unfurnished suites have longer-term annual leases. Each suite, aptly named according to local significance, has been masterfully decorated and updated with the most modern conveniences. The existing Booking Manager, Property Manager and Cleaner look after all day-to-day matters. 2019 income from operations is $272,640, a 236% increase from its inception in 2016. 2017 to 2019 income and expense statements are available for review. Unfurnished suites are $1150/M and furnished suites $2500-$2800/M. Niagara’s tourism industry is currently bustling with the latest statistics reporting 13 million tourists per year and $2.4 billion in expenditures, with 4.9 million overnight stays in various accommodations. This is your chance to assume this already successful business into this new decade of opportunity for Niagara. Please have a look at the video link.


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