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221 Centre Street
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Beds
—
Baths
—
Sqft
12,500
Year
1912
Type
Business
On market
661d
TILLEY HOTEL - Entrepreneurs here is your change to own a well established business earning multiple streams of revenue at a great price. MOTEL - consists of 7 rooms, 3 suites & an owners suite. All rooms are currently full with long term & short term tenants. TAVERN - occupancy 250 - 5 VLT's, 2 shuffles boards, 2 pool tables, banquet room & indoor - outdoor patio. LIQUOR STORE - has a great selection of wines, spirits, coolers & beer - it is the only liquor store in the area. Endless possibilities to generate income while living comfortably in the 2000 square foot Owners Suite - featuring 3 bedrooms, huge windows, triple sided fireplace, hardwood floors, laundry room & private balcony. The Hotel hosts private events, live performances, shuffle board tournaments & comedy shows! The kitchen has a great menu & caters to many functions in the community. Located 5 minutes off the #1 HIGHWAY - 15 minutes east of Brooks & 45 minutes west of Medicine Hat. Current Owners have maintained & grown the business for the past 25 years & would love to see a new family continue in their footsteps. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 3, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Tilley. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.