$2,999,990
122 RIDGEWAY ROAD
Beds
—
Baths
21
Sqft
—
Year
—
About this home
Positioned on an expansive corner lot of nearly 2 acres, the Crystal Beach Motel presents a rare and versatile investment opportunity in the growing Fort Erie area. This well-established property features 20 guest rooms, each with its own washroom, with many units thoughtfully updated to meet modern standards.The property includes a detached garage, dedicated office and a comfortable one-bedroom manager's apartment complete with a four-piece bathroom, offering convenient on-site living. Guests and visitors benefit from approximately 23 parking spaces and a welcoming outdoor fire pit area with seating-perfect for relaxation and social gatherings. Currently operating as a motel under legal non-conforming commercial use, the property is now zoned Residential Multiple, opening the door to a wide variety of permitted uses and future redevelopment potential (subject to approval by the Town of Fort Erie).Ideally located just minutes from the vibrant shores of Crystal Beach and the historic, lively community of Ridgeway, this site is surrounded by ongoing and proposed developments, further enhancing its long-term value.Buyers are responsible for conducting their own due diligence regarding zoning, planning, and development requirements. This is truly a prime opportunity for developers, investors, or entrepreneurs looking to capitalize on a high-potential property in a rapidly evolving area. (id:65958)
- Subtype
- Business
- MLS#
- X12965298
- Area
- FORT_ERIE_(CRYSTAL_BEACH)
Cash on cash
-11.36%
Cap rate
3.62%
GRM
16.7
Break-even rent
$20,978
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.