The landmark Chieftain property in Squamish, B.C., which features the Crash Hotel, and a retail component, has come up for sale.

A hotel listing in Squamish is rare, says Avison Young, which is facilitating the sale process.

The total list price is $12 million, or $580 per square foot, for the mixed-use site. The 10-room hotel is priced at $4.6 million, or $170,370 per room. The hospitality component’s cap rate is 6.02%

The conventional commercial side of the property is priced at $7.4 million, with a 4.2% cap rate.

“This is a remarkable investment opportunity to own a piece of the thriving hospitality market in Squamish – at a time when the province is seeing an upswing in tourism. A discerning owner will see the profitability here, in a hotel real estate market that is closely held, with only three hotels trading in the last 10 years,” said Bijan Lalji, a senior associate with Avison Young’s capital markets group in Vancouver.

The Chieftain location offers meaningful value-add opportunities for expansion, repositioning or comprehensive development, including airspace and vertical-expansion rights allowing for additional four or five stories of hotel or residential.

The Crash Hotel brand is not part of the sales process but a brand-licensing and management agreement may be considered as part of the sale process.

Pictured: Chieftain property in Squamish, B.C.

Photo: Courtesy of Avison Young