114-118 Main Street St. Lunaire-Griquet, Newfoundland & Labrador A0K 2X0

$199,900

Welcome to an extraordinary investment opportunity on the GNP. This former 25,000 sq ft school building, situated on nearly 4 acres of land, offers immense potential and a range of possibilities. -Solid Structure and Enhancements: Constructed in 1969 with a large wing added in the mid-70s, this building showcases quality craftsmanship. Substantial investments were made, including an apex roof added in 2002 and comprehensive stabilization measures in 2004/2005, ensuring a secure and reliable structure. -Breathtaking Views: The property boasts stunning views of the bay. -Potential for RV Park: The cleared grounds are an ideal opportunity to establish a much-needed RV park. Can take up to 10 RVs. -Versatile Interior: The building features numerous classrooms, a full gymnasium with a stage, and a former community library complete with books. -Accommodation Potential: With modifications, the building could have 15 1-bedroom units or 25 hotel-style rooms. Income potential for short-term rentals projected to yield $175-$225 per night per room or around $900 per month long-term per room. -Established Rentals: The property currently offers 3 short-term rental units,"Bayview Suite" and "Garrigus Room." and a third unit. In addition to a spacious 1 bedroom apartment (that could easily be converted to 2 apts). These units have high demand, with the "Bayview Suite" receiving Booking.com's highest rating. -Proximity to Tourist Attractions: Minutes away from the World Heritage Viking site, the property benefits from a steady stream of tourists, ensuring consistent demand for accommodations throughout the tourist season. -Winter Income Potential: The high demand for student accommodations at nearby CONA can be tapped into, providing a reliable source of revenue during the off-season. -Multiple Entertainment Options: The building offers gaming arena with activities like paintball, airsoft, and Gellyball as well as an axe-throwing room and a party room, catering to all. (id:55727)

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https://www.realtor.ca/real-estate/27232383/114-118-main-street-st-lunaire-griquet