$1,099,000.00 0.27 acre

5029 & 5031 47 Street, Sylvan Lake. T4S 1C5

Description

This 1-storey (2,303 with an additional 1,300 +/- SF basement) motel/residential apartment, sitting on two separate lots is just a short walk from Lakeshore Drive! It features 5 - one-bedroom suites, 1 - two-bedroom suite and 1 bachelor suite; all currently occupied by tenants. The basement holds the boiler and hot water tanks. The combined lots equal to 11,571 SF with 7 stalls included on the property for tenant parking. This area is part of the Town of Sylvan Lake’s Sustainable Waterfront Redevelopment Plan. This is an excellent investment opportunity to bring in cash flow now, with the option to develop the land in the future. As these lots are commercially zoned and in the Waterfront Direct Control District, there are many possibilities for redevelopment. The owner is willing to sell the lots separately. Lot 49 (with motel/apartment structure) is listed at $799,000 and Lot 50 is listed at $300,000 if sold individually.

Listing Information

Prop. Type:Commercial
Status:Active
MLS #:A1228894
City:Sylvan Lake
Neighbourhood:Downtown
Province:Alberta
Building/Unit Size: 2,303 sq.ft
Land Size:0.27 Acre
Listing Price:$1,099,000.00
Listing Price Arce:$4,070,370 per Acre
Business Type:
Property Subtype:Multi Family
Transaction Type:For Sale
Land Use Code:W-DC
Listing Contract Date:2022-06-23

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This listing is presented by CENTURY 21 BRAVO REALTY, courtesy of "RE/MAX Commercial Properties" listing brokerage.

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