REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,200,000
Est. payment /mo
Active
12704 120 Street NW Edmonton, AB T5E5N5
15,815 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Approx. Sqft 15815
Square Footage 15,815 sqft
Price per Sqft $139
MLS® Listing ID 45727793
Year Built 1941
Lot Size 1.063 Acres
Acres 46312.992
Property Description
DOVER HOTELA Multi-Revenue Hospitality & Commercial Investment OpportunityAn established hospitality property offering multiple income streams, over one acre of land, and significant value-add potential.Built in 1941, Dover Hotel combines hospitality, entertainment, retail, and real estate investment opportunities. With several existing revenue sources and room for expansion, the property offers potential for an owner-operator or investor seeking to enhance income and unlock additional value.KEY INVESTMENT HIGHLIGHTS•Over 1 acre of land offering future development potential•22 guest rooms, with 12 currently operational•Opportunity to activate additional rooms following required electrical-system upgrades•30 VLTs providing an established entertainment revenue stream•Lounge and restaurant generating food and beverage revenue•Liquor store and convenience store providing additional retail income•ATM and guest room rental revenue•Three lots potentially available for separate sale, subject to applicable approvals•No asbestos in the building, potentially simplifying future renovationsMULTIPLE REVENUE STREAMSDover Hotel offers a diversified operating model combining:Lounge - Restaurant - Liquor Store - Convenience Store - VLTs - Guest Rooms - ATMThese complementary operations provide opportunities to generate revenue from hospitality, entertainment, food and beverage, and retail.SIGNIFICANT UPSIDE POTENTIALOf the 22 guest rooms, 12 are currently operational. The remaining rooms offer an opportunity to expand accommodation capacity following the required electrical upgrades.The propertys substantial landholding adds further investment appeal. Three lots may potentially be sold separately, subject to approvals and market conditions, providing an opportunity to generate capital or explore redevelopment options.OPPORTUNITY TO ADD VALUEAn incoming owner may explore opportunities to:•Expand room inventory and accommodation revenue•Modernize existing facilities•Optimize lounge, restaurant, and retail operations•Maximize the VLT operations potential•Evaluate the separate sale of three lots•Explore redevelopment or alternative uses, subject to zoning and municipal approvalsA COMBINATION OF BUSINESS & REAL ESTATEDover Hotel offers the opportunity to acquire an operating hospitality business alongside a substantial real estate asset with multiple existing revenue streams and identifiable value-add opportunities.For an owner-operator, it offers several complementary businesses under one roof. For an investor, it provides a platform to pursue operational improvements, additional income, and potential long-term real estate value.Dover Hotel — Established operations, diversified income, and room to grow. (id:24570)
Location
Province AB
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 125
Garage No
Private Pool No
Listed by RE/MAX Excellence