6505 48 Avenue, Camrose | AB

HOTEL FOR SALE

Norsemen Inn, Camrose

A full-service hotel on 3.65 acres of land located in the growing city of Camrose, Alberta. Concrete and steel frame with a building area of 65,000 square feet and 75 modern guestrooms including six upgraded suites. On-site amenities include a restaurant, dining room, lounge, brewpub, and banquet hall. Excellent location near four provincial highways. $5,180,000

Listing Price:

Contact:

This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2019. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Brokerage Inc. (Edmonton).

PERRY GERELUKVice President780 969 2979perry.gereluk@colliers.com

Colliers International2210 Manulife Place, 10180 - 101 Street

Edmonton, AB | T5J 3S4P: +1 780 420 1585F: +1 780 424 7830

> 55 minutes southeast of the City of Edmonton and 45 minutes southeast from the Edmonton International Airport

> Population: 18,742 (2016 Census); Increase of 8.4% from 2011

> Trade area of approximately 140,000 people

> At the junction of four provincial highways (Highways 13, 21, 26 and 56)

> Diverse economy influenced by agriculture, oil and gas, transportation, manufacturing, education, and health care services

> Home to the University of Alberta Augustana Campus, St. Mary’s Hospital, the 2,500-seat Encana Arena, Camrose Airport, and numerous parks

Legal Description Plan 8923299Block 15 Lot 12

Constructed 1978 and 1981

Site Size 3.65 acres

Building Area 65,000 SF

Floors 4

Rooms 75 including 6upgraded suites

Framing Primarily concrete, concrete block, and

steel frame

Room Amenities Free Wi-Fi, coffee machine, iron and

ironing board, microwave, compact

refrigerator, hair dryer, and 42” flatscreen TV

Hotel Amenities Banquet Hall, Odin Dining Room, Gravity Lounge, Tap Room

Bar and Brewery, and Hagar’s Café

SurroundingBusinesses

McDonald’s, Canadian Tire, Duggan Mall, Tim

Hortons, Pizza 73

About Norsemen Inn

About Camrose

NORSEMEN INN

REAL CANADIAN SUPERSTORE

TIM HORTONSSTARBUCKS

DUGGAN MALL

BROWNSSOCIALHOUSE

CANADIAN TIRE

MCDONALD’S PIZZA 73

MAGIC LANTERN DUGGAN CINEMAS

SAFEWAY

CAMROSE COMPOSITE HIGH SCHOOL

48 AVENUE48 AVENUE

68 S

TREE

T68

STR

EET

65 S

TREE

T65

STR

EET

BANQUET HALL

STANDARD ROOM

Financial Performance - Norsemen Inn

Fiscal Year 2015 2016 2017 2018 2019

Gross Revenue $5,950,262 $4,890,319 $4,449,203 $4,695,934 $4,682,133

Net Income $1,080,477 $327,686 -$104,991 $313,978 $363,032

Economic GrowthThe economy of the Province of Alberta has experienced a period of instability over the past ten years. There have been years of significant growth due to population inflows and strong energy prices but there have also been years of decline. For the current calendar period (2020), the Conference Board of Canada is predicting growth of 2.0% although this was made before the effects of the COVID-19 pandemic and the Saudi-Russia oil war. Economic growth levels and the unemployment rates over the past four years in the province are detailed in the following tables.

Financial PerformanceRevenue levels have dropped at the property since the healthy economic years of 2012 to 2015. They have recently plateaued although some temporary negative consequences are inevitable due to COVID-19 and the Saudi-Russia oil war. Gross and net income levels for the Norsemen Inn (including personal expenses) over the past five fiscal periods (ending July) are detailed in the following table.

$5,180,000Listing Price:

BREWERY

Year Alberta Economic Growth

2016 -4.1%

2017 4.6%

2018 2.3%

2019 0.8%

Year Feb Unemployment Rate

2017 8.2%

2018 6.7%

2019 7.2%

2020 7.2%

CLOCKWISE FROM TOP: Executive Suite // Standard Room // The Tap Room // Hagar’s Café

Contact:PERRY GERELUKVice President780 969 2979perry.gereluk@colliers.com

Accelerating success.