118 Rainbow Rd - Mariner's Loft 0.41 Acres of Commercial Land Offered at $4,135,259 USD in Salt Spring Island, BC V8K 2V5
INVESTMENT HIGHLIGHTS
- Upscale, well positioned hospitality property steps away from Central Ganges Village
- Premium location with world class views of Ganges Harbour
- Close proximity to retail shops, restaurants and noteworthy tourist attractions
- 7 individual stratified units with 15 bedrooms, high quality finishing and attractive unit amenities
- Streamlined management systems in place allowing for straightforward, hands off operations
- Strong ADR and RevPAR metrics with noteworthy upside
EXECUTIVE SUMMARY
Upscale, well positioned investment opportunity on Salt Spring Island in the beautiful Gulf Islands. The subject property is improved with a 3 storey building comprised of 7 high end units with 15 bedrooms and a myriad of premium amenities. E.g. In-suite washer and dryer, kitchen area, private patios, vaulted ceilings, TV’s, barbeques, wifi, onsite parking with secure gate, private entrances, gas fireplaces and floor to ceiling windows. Exceptional ocean, forest, and island views; only minutes away from retail shops, restaurants, parks and other major tourist attractions in Ganges Village. The penthouse is permitted for full time occupancy, allowing for one to live onsite, while managing the streamlined operation. Salt Spring has a dynamic, alluring hospitality submarket with limited supply and sizeable demand. STR reports are robust (e.g. elevated ADR & RevPAR metrics) with future growth potential and there are no supply side pressures in the near-term. Please inquire for more information.
FINANCIAL SUMMARY (ACTUAL - 2022) |
ANNUAL (USD) | ANNUAL PER AC (USD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$261,174
|
$644,874.76
|
PROPERTY FACTS
| Price | $4,135,259 USD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Hospitality |
| Total Lot Size | 0.41 AC |
| Zoning | CA1(d) - Commercial Accommodation 1 zone variant (d) |
1 LOT AVAILABLE
Lot
| Price | $4,135,259 USD |
| Price Per AC | $10,210,390.95 USD |
| Lot Size | 0.41 AC |
Upscale 3-storey building on Salt Spring Island with 7 high-end units, 15 bedrooms, premium amenities, and stunning views. Strong STR income potential. Live onsite via penthouse occupancy. Prime location near Ganges Village.
1 of 1
