Boasting 1000+ feet of shoreline with all exposures on approx. 13 acres on Gillies Lake in a town filled with history. Quiet, remote, with abundant wildlife, yet is located right off of 11B highway and within 15 minutes from the Lakefront towns of Haileybury & New Liskeard, on the Timiskaming shores. An established business is being sold with the property consisting of 5 renovated (2019) 4-season cottages with bookings all year. Guests include holidaymakers, nature enthusiasts, and longer-term stays for trades and construction people working in the area. Gross income last fiscal year approx $122,000. Expenses approx. $50,000. There is an RV site with 14 stalls and two boat launches. Additional structures are being upgraded for additional income streams. Beautiful site to build an owner's suite. There is potential to utilize the RV stalls as glamping areas or construct additional cabins. Those with landscaping skills could transform this property from something special to amazing! |
Extras: Year-round activities. Hiking. Swimming. Boating. Rock climbing. Shopping. Theatre. Dining. Directly on snow mobile trails. Ice Fishing. Cross-country skiing. ATV trail. Downhill skiing & snowboarding 20 minutes away. |
Price | $1,290,000 |
Taxes: | $3300.96 |
Tax Type: | Annual |
Occupancy by: | Tenant |
Address: | 374100 Highway 11B , Coleman, P0J 1C0, Ontario |
Postal Code: | P0J 1C0 |
Province/State: | Ontario |
Legal Description: | See mortgage comments |
Directions/Cross Streets: | In Between Cobalt And Hw 11 |
Category: | Accommodation |
Use: | Cabins/Cottages |
Building Percentage: | Y |
Total Area: | 700698.00 |
Total Area Code: | Sq Ft |
Area Influences: | Grnbelt/Conserv Major Highway |
Approximatly Age: | 0-5 |
Business/Building Name: | Gillies Lake Front Cottages |
Days Open: | 7 |
Taxes Expense: | $3301 |
Insurance Expense: | $4415 |
Heat Expenses: | $3000 |
Hydro Expense: | $17000 |
Water Expense: | $0 |
Other Expenses: | $4000 |
Gross Income/Sales: | $122000 |
Operating Expenses: | $10000 |
Vacancy Allowance: | 30 |
Net Income Before Debt: | $71720 |
Estim Inventory Values At Cost : | 50000 |
Year Expenses: | 2022 |
Expenses Actual/Estimated: | $Est |
Washrooms: | 5 |
Crane: | N |
Heat Type: | Elec Forced Air |
Central Air Conditioning: | N |
Sewers: | Septic |
Water: | Well |
Water Supply Types: | Dug Well |
Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
BERKSHIRE HATHAWAY HOMESERVICES TORONTO REALTY |
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Book Showing | Email a Friend |
Type: | Com - Investment |
Area: | Timiskaming |
Municipality: | Coleman |
Approximate Age: | 0-5 |
Tax: | $3,300.96 |
Maintenance Fee: | $4,000 |
Baths: | 5 |