FOR SALE The Northern Hotel
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FOR SALE
The Northern Hotel
561 2nd Avenue
Fernie, BC
Highlights
` 14,503 sq.ft., three-storey building
` Tenanted 4,180 SF bar & 1,820 SF restaurant.
` 19 suites on upper floors
` 7,880 sq.ft. lot zoned C-1 (Retail Commercial).
` 8.0% cap rate
NAI Commercial
Gary Haukeland J-D Murray 1075 W Georgia St, Suite 1300
Senior Vice President Senior Associate Vancouver, BC V6E 3C9
604 691 6693 604 691 6664
ghaukeland@naicommercial.ca jdmurray@naicommercial.ca +1 604 683 7535
*Personal Real Estate Corporation naicommercial.ca
Property Details
Civic Address:
561 2 Avenue nd 561 2nd Avenue
Fernie, B.C. V0B 1M0W4
Fernie, BC PID: 008-655-162
Legal: Lot 6, Block 14, District Lot 4588,
The Opportunity Kootenay District Plan 734;
The property represents an opportunity to acquire a free standing
PID: 008-655-189
14,503 SF, two-storey 19 room hotel in Fernie, BC, with two retail
Legal: Lot 7, Block 14, District Lot 4588,
units on the ground floor, home to a 4,180 SF bar and 1,820 SF
Kootenay District Plan 734; and
restaurant. The improvements rest on a 7,880 SF lot. The hotel is
located at 561 2nd Avenue, on the west side of the street, between 5th
PID: 008-655-090
and 6th Streets in downtown Fernie, only blocks away from Highway
Legal: Parcel A (See 181034I), Lot 5, Block
3 and close to all amenities. There is parking available in the alley to
14, District Lot 4588, Kootenay District Plan
the rear of the building for up to four vehicles and the current zoning
734, Except Part Included In Plan 9947
for the property is C-1 (Retail Commercial). The building has heritage
PID: 025-921-398
status. The subject property was built in 1908, as a hotel, however
now the property operates as monthly rental apartments with several
SRO suits and approximately 7 suites with private bathrooms and Property Tax (2020)
kitchenettes, that rent for between $350 and $950 per month $14,765.76
respectively. Although the floorplans show 19 “rooms”, only 12 are
available for rent. The two retail spaces on the ground floor are
Price
occupied by the Lunch Box restaurant and the Northern Bar & Stage.
$1,395,000
The Lunch Box currently leases for $10/SF ($18,200 per annum) +
GST (term expiring on December 31, 2020) and the Northern Bar &
Stage leases for $13/SF ($54,340 per annum) + GST (term expiring
on May 31, 2021). In addition, both retail tenants pay proportionate
shares of property tax, licensing fees and other expenses equal to
12% for the Lunch Box and 27.87% for the Northern Bar & Stage.
Location
The property is located at 561 2nd Avenue, on the west side of the
street, between 5th and 6th Streets in downtown Fernie.
Floor Plans
Top Main 1st Level
Alley
Alley
2nd Ave
2nd Ave
Legal Plan
SUBJECT
PROPERTY
FOR SALE
The Northern Hotel
561 2nd Avenue
Fernie, BC
NAI Commercial
Gary Haukeland J-D Murray 1075 W Georgia St, Suite 1300
Senior Vice President Senior Associate Vancouver, BC V6E 3C9
604 691 6693 604 691 6664
ghaukeland@naicommercial.ca jdmurray@naicommercial.ca +1 604 683 7535
*Personal Real Estate Corporation naicommercial.ca
WITHIN 1KM RADIUS ELK VALLEY
HOSPITAL
1. Save On Foods
2. BC Liquor Stores
3. Blue Toque Gastro Diner 9
4. Big Bang Bagels
5. Fernie Museum
6. Yamagoya Sushi
7. Curry Bowl 8
8. Fernie Pizza & Pasta
9. A&W Canada 10
10. Red Apple
CROWSNEST HWY
2ND AVE
11. Spa 901
12. Fernie Memorial Arena 12
13. Fernie Community Centre 11
14. Kodiak Lounge 7 13
15. The Pub Bar & Grill 14
1
15
6 2
Fire Department
SUBJECT 3
PROPERTY
4
5
Gary Haukeland* J-D Murray
Senior Vice President Senior Associate
604 691 6693 604 691 6664
ghaukeland@naicommercial.ca jdmurray@naicommercial.ca
*Personal Real Estate Corporation
NAI Commercial
1075 W Georgia St, Suite 1300
Vancouver, BC V6E 3C9
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject +1 604 683 7535
to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing
conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein naicommercial.ca
are any to be implied. Aerial & streetview images courtesy of Google, DigitalGlobe.
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