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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$2,800,000
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
Very rare opportunity to purchase a property located in downtown Hamilton's intensification corridor. Downtown Residential (D5) zoning permits construction of a new multi-residential building to a height of up to 44.5 meters (146 feet). Property is ideally suited for redevelopment or a retrofit. The .25 acre property has been improved with a 4,630 sq. ft. building that has been used as a place of worship for over 70 years. The church has been meticulously maintained by the custodians of the congregation. Two new gas-forced air furnaces were installed in 2022. Recent upgrades and renovations to the kitchen. A generous clear height sanctuary includes the original fully functioning pipe organ, a handicap elevator, seating capacity for over 250 and beautiful stained glass windows. Multiple classrooms and offices on the upper and lower levels. **** EXTRAS **** Property is exempt from property taxes based on its current use. (id:39198)
Location
Province
Ontario
City
Hamilton
Address
18 Victoria Ave S
Postal Code
L8N2S6
Location Highlights
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Listed by
COLDWELL BANKER INTEGRITY REAL ESTATE INC. Ontario listing
Category
Property Information
Premise Status
Includes REAL ESTATE
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
4,630
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
N/A
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
N/A
Financial Information
Yearly Rate
$2,800,000
Asking Price
$2,800,000
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.
N/A
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)
4,630
Other Information
Owner willing to Finance
No
Absentee Owner
No
Support and Training
Not Included
Growth and Expansion
N/A
Market Competition
N/A
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