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Apartment Building For Sale at 306 Herring Cove Road in Halifax, Nova Scotia

4 Sale ID #162365
Updated 29 Apr 2024

Asking Price

$975,000

Cap Rate help 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

ZONED C-2A - 9,000 sq ft lot in a great location on the corner of Herring Cove Road and St. Michaels Avenue with separate driveways on both streets. The building contains two residential units. a Two bedroom unit and a three bedroom unit each with two full baths and own laundry. Both units have in-floor hot water heating, two entrances, separate yards and ample parking. Unit 306A has a new deck and new fence (2023). (id:39198)

  • MLS® : #202320087
  • Date Listed : 22 Sep 2023

Location

Province

Nova Scotia

City

Halifax

Address

306 Herring Cove Road

Postal Code

B3R1V4

Location Highlights

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Listed by

Royal LePage Atlantic Nova Scotia listing

Category

apartment-buildings

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 help Furniture, Fixtures & Equipment that remain with the business.

Not Included

Inventory Value - approximate help 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

$975,000

Asking Price

$975,000

Cap Rate help 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 help 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 help 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 help 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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