5544 Mcleod Rd - Hospitality FOR SALE


Niagara Falls, ON L2G 3Y9
$6,975,000 CAD
416-441-2888
5544 Mcleod Rd, Niagara Falls, ON for Sale
$6,975,000 CAD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

5544 Mcleod Rd
Niagara Falls, ON L2G 3Y9


HIGHLIGHTS

  • 23 motel units
  • In-place zoning permits a range of Tourist Commercial Uses
  • Mid-to-high density residential development potential

OVERVIEW

Harvey Kalles Real Estate Ltd., Brokerage & High Point Realty Limited are pleased to present a prominent gateway motel property with mid-to-high density residential development potential. Located in the Tourist Core of Niagara Falls at the corner of Stanley Ave & McLeod Rd, between Marineland and the hotel-entertainment core, the existing non-operating 2 storey motel, in need of rejuvenation, contains 23 motel units and has a 3-bedroom office/residence. In-place zoning permits a range of Tourist Commercial Uses. A mixed-use development concept by Zeidler Partnership Architects for 245 res units/22 floors with podium retail commercial has been presented to the City. The site provides a unique opportunity to pursue a mid-rise or high-rise rezoning for greater heights or to restore/expand the existing model. As is where is sale. 1.5+/- acres site consists of 2 land parcels. Survey, Geotech, Phase 1, 2 & Record of Site Condition reports are avail.HST is in addition to list price & sole responsibility & expense of the Buyer.Property Tax amt subject to confirmation. Quick service retail is $2,000,000. Motel is $4,975,000.

FOR SALE DETAILS

PRICE

$6,975,000 CAD

PRICE/SF

$1,249 CAD /SF

# OF ROOMS

23

PRICE/ROOM

$303,261 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mcleod Road Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1980

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.39 AC

LAND SF

60,548 SF

ZONING

C

APN/PARCEL ID

272508000314200

ASK ABOUT THIS PROPERTY

Paul AzzarelloHarvey Kalles Real Estate - HQMore Info
416-441-2888

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Paul AzzarelloHarvey Kalles Real Estate - HQMore Info
416-441-2888

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.