The Jubilee Motel in Penticton has sold for $1.2 million, NAI Commercial Okanagan tells Western Investor.
The 26-unit hotel is situated on just under an acre of land and was purchased by 1084064 BC Ltd. for approximately $46,153 per suite. The motel is comprised of 11 kitchenettes and 15 standard rooms. The property has an assessed value of $936,400 and listed for $1.3 million. The sale closes on August 30.
The property is located at 2475 Skaha Lake Rd., Penticton.
Breakdown:
Price: $1,200,000
No. of Units: 26
Price/Unit: $46,153
Lot Size: 33,018 SF
Property Type: Hotel
Zoning: CT1
2016 B.C. Assessment Value: $936,400
Date of Sale: 08/30/2017
City: Kelowna
Province: B.C.
Name of Brokerage: NAI Commercial Okanagan Ltd.
Name of Vendor: Pontes Properties Ltd.
Name of Buyer: 1084064 BC Ltd.
Do you have a Done Deal you'd like to promote? Submit here for a free posting!
