Tyee Restaurant & Motel

Coupeville, WA (Island County)

Seller Financing Available
Tyee Restaurant & Motel
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Asking Price: Get Financing: $1,325,000

Cash Flow: N/A

Gross Revenue: $1,315,091

EBITDA: N/A

FF&E: $100,000

Inventory: N/A

Real Estate: $1,000,000

Established: 1925

Tyee Restaurant & Motel

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Business Description

The restaurant and building has historic appeal and has been a favorite for locals and tourists for many years. This is a "cash flow" machine with two (2) separate properties included in the sale and an actual Capitalization Rate of 19.77! The restaurant property has a dining room that seats 49 plus a lounge (with pull-tabs and billiards) that seats 48 plus an outdoor deck that seats 16 for a total of 113 people. There is also an office upstairs and a 2-Bedroom (1.75 Bath) apartment that is the Owner's unit, or could rented out to the public at large for additional income. Across the parking lot is a 9-Room Motel (with a laundry room in center of property).

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
7,405
Employees:
24
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Building has been upgraded with many improvements (i.e. roofs on both buildings, new sewer line, plumbing, fas furnace, evergy-efficient heat pump, fresh paint and siding replacement on front of building and new wood flooring throughout dining, lounge, and billiards rooms). The Motel is very efficient to run as all nine (9) Guest Rooms are on the Main (Ground) Floor.
Competition:
Located on Main Street frontage just two (2) blocks off of Highway with signage. Throughout the years, this establishment has been a favorite of the locals catering to comfort foods and reasonable prices making it no competition to other businesses in the area. Also, there is a city regulation that no motels over 10 rooms are allowed to be built in Coupeville.
Growth & Expansion:
The local naval air base in Oak Harbor is expecting to increase squadrons over the next few years which will increase the population substantially on the Island. Coupeville has gained the reputation over the years as the place to go for good food and local activities. There is a variety of diversified restaurants which helps all of the businesses. There is a possibility of adding on to building, or changing the Billiard Room to have entertainment or additional seating. If new Owners are interested, they could also add catering which can be very profitable.
Financing:
Seller may consider some Seller financing
Support & Training:
Cooperative Sellers will stay on and train new Owners for a reasonable amount of time. They can also be available on phone and e-mail for continued training and advise.
Reason for Selling:
Retiring after 25 successful years.
Business Website:
http://www.tyeehotel.com
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Contact the Seller

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Mark Peizer

Business Listed By:
Mark Peizer

Peizer Commercial Real Estate

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