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Asking Price
$1,329,980
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
DEVELOPER ALERT! Approximate 0.23 acre of prime land ready for redevelopment right on Jacklin Rd where high density land assemblies are happening. Langford OCP supports a wide range of high-density options: Mixed-Use Residential/Commercial, Light Industrial, and Institutional. This is a prime location right in the heart of the redevelopment of the new Belmont Market Village mix use phased build out, City Centre Park, Langford Lake, and Glen Lake. There are a multitude of shops, services, theater, restaurants, sport centres and transportation at your doorstep and right across the street from the mall. Galloping Goose access to the is just blocks away from the residence. Recently connected to sewers and many great updates in past 10 years with roof, thermo windows, HWT, insulation etc. and separate hydro meters. This is an excellent opportunity for a significant development to add to this thriving and vibrant mixed-use community in the area on this 66 by 402 rectangle shaped lot. Current use is a Legal non-conforming front to back duplex. It is a one level ranch style & offers 4 beds/2 baths/2 kitchens almost 2000 finished SQFT. Completely separated by the two entrances and laundry area for both units & set back from the road. Front unit was a circa built 1950's resident of approximately 900 SQFT. The back unit was a large legal addition built on in 1983 by permit of approximately 1,100 SQFT. It has french doors that open out to a private sundeck & large fenced level back yard. Oodles of parking, RV parking, and storage on this huge private yard. Great to hold with instant revenue opportunities easily at market rent while waiting rezoning and building permits. Currently multi generation owner occupied with flexibility for closing/ possession and even possibly a rent back scenario that could work. (id:39198)
Location
Province
British Columbia
City
Langford
Address
3052 Jacklin Rd
Postal Code
V9B3Y9
Location Highlights
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Listed by
Sutton Group West Coast Realty British Columbia 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
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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
$1,329,980
Asking Price
$1,329,980
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)
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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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