215 GARRISON Road, Fort Erie (Lakeshore) - Business for Sale
215 GARRISON Road, Fort Erie (Lakeshore), Ontario, L2A1M6
This business in Fort Erie is for sale offering roughly 12,000 sq ft of space. It has been on the market 24 days, fresher than the Fort Erie average of 106 days.
Description
Renovated 22-unit ensuite motel plus owner living quarters in a prime Fort Erie location, minutes from the Peace Bridge border crossing to Buffalo and approx. 30 km from Niagara Falls. Approx. 12,000 sq. ft. building on a 0.92-acre lot. Over $645k in capital upgrades in last three years: new roof, new heating and cooling in every room, upgraded electrical panel and wiring, new fire alarm system, new boilers and hot water tanks, new flooring, fresh paint throughout, new furniture, perimeter fencing, and a surveillance system with smart locks on all doors.Each of the 22 ensuite rooms features air conditioning, cable TV, fridge, microwave and private bathroom. The property also includes generous owner accommodation (separate owner/manager unit plus a 4-bedroom/2-bathroom suite), approx. 35 parking spaces.Ideal location on Hwy #3 with quick access to the Peace Bridge border crossing into Buffalo, New York, and the scenic Niagara Parkway. Minutes to Old Fort Erie, the Fort Erie Race Track, Lake Erie beaches including Crystal Beach, and championship golf courses. Town approval in place for seasonal student-residence use during the school year, offering added income flexibility. Clean Environmental Site Assessments available from 3 years ago. Rare opportunity to own a turn-key, income-producing motel at the gateway to Buffalo and Niagara. (id:66096)
Property Details
- MLS®
- X13885644
- Property Type
- Business
- Business Type
- Accommodation
- Zoning
- C-7
- Bathrooms
- 23
- Interior Size
- 12,000 ft²
- Frontage
- 201 ft
- Building Area
- 12,000 ft²
- Heating
- Forced air
- Cooling
- Fully air conditioned
- Garage
- Other
- Property Tax
- $18,120/yr
- Listed
- 24 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Extended: 24 days on market, against an average age of 106 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.
This business in Fort Erie (Lakeshore) has been listed for 24 days, which is 82 days fresher than the city average of 106. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (L2A)
This home lists at $3,199,000, about 44.1× the local median household income of $72,500.
Carrying it typically needs a household income of about $624,877 (20% down, 25-yr amortization, stress-tested) — roughly 762% above the area median.
- Median household income
- $72,500
- Population
- 17,293
- Median age
- 49.2
- Owner / renter
- 74% / 26%
- Avg. household size
- 2.3
Source: Statistics Canada, 2021 Census (FSA L2A)
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$3,199,000
Fort Erie