The Log Cabin Motel in Penticton has sold for $2.9 million, Green Kinash Real Estate Group tells Western Investor.
The 36-unit, six-storey motel is situated on a 1.9-acre corner lot, with high-density zoning. The site was listed for $3.2 million with an assessed value of $2.2 million. The motel offers full, two-storey lofts with ensuite Jacuzzis and fireplaces. The motel is centrally located just a block away from Skaha Beach.
The property is located at 3287 Skaha Rd., Penticton.
Breakdown:
Price: $2,900,000
No. of Units: 36
Price/Unit: $80,555
Lot Size: 1.92 acres
Property Type: Hotel
Zoning: CT1
2016 B.C. Assessment Value: $2,228,800
Date of Sale: 11/22/2017
City: Penticton
Province: B.C.
Name of Brokerage: Green Kinash Real Estate Group
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