Homula Realty Brokerage
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

1527 HWY 64 Highway, French River, ON P0M 1A0

Sale Of Business
$2,699,000

Discover the Difference at Riverdale Resort - An Exclusive Jewel on the French River! An exceptional year-round investment opportunity offering multiple income streams a highly tourist Destination! Situated on 2.7 acres with 287 ft of waterfront, a beautiful sandy beach, panoramic sunset views, new docking and landscaping, this turnkey property is ready for its next chapter. The main lodge spans 6,772 sq ft over two levels and features reception and gift shop, open-concept dining area, full bar, pool tables, darts, stage area, and the popular Route 64 restaurant with full commercial kitchen. Liquor licence accommodates 125 guests indoors and on the waterfront patio, with special event capacity up to 800 people. The upper level offers exciting possibilities for an owner's suite, additional motel rooms, staff housing, event space, or a combination of uses. The 3,944 sq ft motel offers 9 updated waterfront-view rooms, each featuring private bath, TV, internet, bar fridge, microwave, coffee maker and front porch seating. Six fully renovated waterfront cottages include kitchenettes, washrooms, decks with BBQs, TV and internet. Additional features include a private owner's residence, detached 3-car garage, unlimited UV-filtered water supply from the river, geothermal heating in the main lodge with oil backup, septic system, and individually controlled heating in motel and cottages. Located beside Highway 64 with excellent exposure and direct access to four-season tourism, including snowmobile trails nearby. A rare opportunity to own an established resort, restaurant, motel and cottage business in the heart of the French River. For complete overview see my website for details. Information package for qualified buyers.

MLS number
X13464016
Type
Sale Of Business
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
P0M 1A0
Photos
44
Property tax
$14,797 / year
85days · this listing
85days · this property

This property has not been relisted in the last two years, so both counts are the same. Where they differ, the second adds up earlier listings at this address that ended without a sale.

Listing history

No previous listings found for this address.

Where this home is

This address could not be placed on the mapHomula matches addresses against open government address data, and this one found no match — so the map, the nearby schools and the school boundaries are all unavailable for this listing. It is a gap in our data, not a property without schools nearby.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$539,800 · minimum here is $539,800
$11,950.59per month
Borrowed before insurance$2,159,200
Total borrowed$2,159,200
Interest over 25 years at 4.5%$1,425,976

If you rented it out

Monthly rent starts from a rule of thumb — two per cent of the asking price a year — because no comparable lease was found nearby. Change it to anything you like.

-$8,685.67per month out of pocket
Rent$4,498.00
Everything it costs to hold$13,183.67
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by Narozanski North Realty Inc. Listing data provided by the Toronto Regional Real Estate Board.