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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$2,699,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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Lot Size
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Building Size
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Premise Summary
Once in a lifetime opportunity to own a historic piece of Newcastle history. Incredible location with amazing unobstructed views of Lake Ontario, the Marina and Bond Head Park and Beach. Originally built in 1865 as the Old Brick Temperance Hotel this amazing property has been lovingly restored and must be seen to be appreciated. This property features 4 self contained units that offer incredible income potential for the savvy investor. This would be an Air BnB dream property to add to your portfolio or live in the main unit and rent the others. Located in an area of multi million dollar homes properties like this are rarely found. Hundreds of Thousands $$ in recent upgrades: All new exterior windows, doors, steel roof and custom siding with newly paved driveway. 4 brand new high efficiency heat and ac units and hot water tanks. 3 brand new kitchens with the main unit showcasing incredible exposed beams, original Victorian fireplace, new flooring, new bathroom with suspended tub, separate laundry and high end appliances, custom shiplap walls and so much more all with unobstructed views of Lake Ontario from all angles. There are too many upgrades to list. The property features large 20x30 Quonset storage garage with hydro and 2 street frontages with nearly one acre of land with 5 electrical panels. Thousands of visitors flock to the beach, marina, pier and boat launch directly across the street. Bond Head View Point is a must see attraction in the area adored by surfers and fishermen with the annual Salmon Derby. This could quite possibly be the best location in all of Newcastle. Please watch the HD Video to fully appreciate this property! **** EXTRAS **** The four units all feature separate entrances all with kitchens and baths and separate hydro panels. Three - One Bedroom units and One - Two bedroom unit. This property must be seen to be appreciated. A life time opportunity for any buyer! (id:39198)
Location
Province
Ontario
City
Clarington
Address
2 Boulton St
Postal Code
L1B1L9
Location Highlights
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Listed by
RE/MAX JAZZ INC. Ontario listing
Category
Property Information
Premise Status
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With Accommodation
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Tenancy
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Lot Size
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Available Space
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Building Size
3,016
Year Built
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Years Remaining in Current Lease Term
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Renewal Options
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Operational Information
Number of Working Owners
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Current Owner - years
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FF & E
Furniture, Fixtures & Equipment that remain with the business.
Not Included
Inventory Value - approximate
Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.
Not Included
Franchise
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Financial Information
Yearly Rate
$2,699,000
Asking Price
$2,699,000
Cap Rate
The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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NOI
Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.
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Gross Revenue- annual
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Cash Flow - annual
1 Take your “Net Income before Taxes”, then,
2 Add up all payments to: owners + interest + allowances for asset depreciation.
3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)
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EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
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Premises Size (square feet)
3,016
Other Information
Owner willing to Finance
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Absentee Owner
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Support and Training
Not Included
Growth and Expansion
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Market Competition
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