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BrokerStudio
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Benefits
Asking Price
$1,499,000
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
4 UNIT WATERFRONT OPPORTUNITY nestled in the picturesque harbour of Port Rowan, steps downtown to shops and restaurants. Sale includes two parcels. PARCEL ONE - two storey, 5864 sq. ft. building anchored by a restaurant on the main floor (3884 sq ft), licensed to seat 90 indoors and 48 on the patio. Features include walk-in cooler, gas range, 2 deep fryers, double oven, bar, coffee station, office, 2 accessible and 2 staff washrooms. Upper level with 1980 sq ft, quality re-built in 2003, features 3 residential units featuring spectacular harbour views, new LG heating/cooling units, cathedral ceilings, exit lighting, fire alarms and separate enclosed & secure apartment entry. PARCEL TWO - harbour lot, approx 100 ft. by 100 ft. includes parking for 11 cars and 98 ft. of water frontage with ownership of approximately 60+ ft. from the boardwalk into the water. Seawall, boardwalk with steel frame, pavilions on both ends plus six docks included (on site but not installed). Potential for additional income - houseboat/dock rentals, boat/sea doo rentals etc. Special Zoning - no required parking spaces to operate a restaurant however 13 spaces are available (2 accessible) and additional public parking nearby. Zoning allows for multiple uses - be your own boss and live at the waterfront, run a hotel, air bnb, restaurant, rentals etc. or make this your next waterfront investment. 2 hrs to Toronto and 1 hr 15 min to London. Sale does not include restaurant business. Can be purchased with adjoining property MLS®40552561 (id:39198)
Location
Province
Ontario
City
Port Rowan
Address
10 & 11 Sea Queen Road
Postal Code
N0E1M0
Location Highlights
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Listed by
GOLD COAST REAL ESTATE LTD. 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
5,864
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
$1,499,000
Asking Price
$1,499,000
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)
5,864
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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