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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$2,675,000
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
Historic Red Brick Apartment Buildings in quaint Colborne. Imagine this investment in a growing town 130 kms from Toronto! Own a big chunk of the Main Street in this growing Quaint Downtown close to Lake Ontario and on the King's Highway.Mixed-Use Income Units: 9 Residential & 3 Commercial facing Quaint Downtown Main Street. Well-updated & proudly commanding a 75 ft swath of frontage in the bustling downtown & historic King Street E in Colborne, ON.Historic buildings have modern updates including large large cement patio terrace in front w/ contemporary railings paid for and maintained by the town!Cool Tin ceiling & wood banister & heritage details add character in some areas of the buildings. Well-Updated & maintained units.These buildings are sited on a large lot w/ so much parking in back.Full basement houses mechanicals, 10 yrs new furnace for Laundromat business & sep. meters + lots of storage. Well-tenanted. Commercial Tenants just renewed leases. On-site Property Manager! BONUS! Sale includes solid income from the only Public Laundromat Business in the vicinity including all machines. Superintendent onsite in exchange for partial rent abatement. Separate Electrical Meters. Good Commercial tenants: Retail, Office. Excellent Turnkey Income generating! Fire retrofit/update in process. Income & Expense Sheet available. **** EXTRAS **** Furnace 10 years. Windows: 2016-2019. Common Area updated. Some Waterproofing/Repair to exterior '23. Cement Patio, Railings. Roof in good shape Steel w/Spray Foam. Sep Metres. Income & Expense Sheet available. (id:39198)
Location
Province
Ontario
City
Cramahe
Address
33-39 King St E
Postal Code
K0K1S0
Location Highlights
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Listed by
CENTURY 21 ALL-PRO REALTY (1993) LTD. 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
0
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
$2,675,000
Asking Price
$2,675,000
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)
0
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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