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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$6,995,000
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
Welcome to this stunning fully renovated 24-unit , six storey apartment building with market rents. This building has been turned over with 21 of the units fully renovated with upgrades including a full electrical upgrade with separately metered hydro in every unit. Ductless spilts providing heat and air-conditioning. Also secondary heat in all rooms with electrical baseboard. All 21 of the renovated units have brand new kitchens and stainless steel appliances. Quartz counter tops, designer backsplash, new flooring , paint, lighting, paint, all new doors and fully renovated bathrooms. the underground garage features a heated driveway, remote entry and rentable spots. All common areas have new flooring, baseboards, lights and security cameras installed throughout. The elevator is frequently maintained and has been completely remodelled inside. Added income with coin operated laundry and over 20 extra storage units built for tenants. Additional annual income form Rogers with cellular towers on top of building. The building is situated on a desirable corner lot, close to hospital, shopping, grocery restaurants, and bus routes. Not only is this an amazing opportunity, the sellers have secured a large assumable (for qualified buyers) CMHC mortgage at 3.75% for 10 years fixed with 40 year amortization. The current process for the CMHC could be up to two years which makes this assumable mortgage very desirable for any buyer. Please contact the listing agent for all info. (id:39198)
Location
Province
Ontario
City
Brantford
Address
65 St. George Street
Postal Code
N3R1V2
Location Highlights
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Listed by
THE REALTY FIRM INC., BROKERAGE 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
18,298
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
$6,995,000
Asking Price
$6,995,000
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)
18,298
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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