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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$8,999,000
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
Every once in a while, an opportunity presents itself to acquire a truly spectacular property; a property so unique and special, that it must be seen to be understood. Rodman Hall is such a property. Originally built in 1857 as a private home, and operated for years as an art gallery, this remarkable estate has been completely rebuilt into a breathtaking boutique hotel and banquet hall/events centre. Situated on a very private lot with over 7 acres overlooking downtown St. Catharines, this stunning facility offers 13 lavish hotel rooms and a variety of exquisite event spaces including meeting rooms, a large bar area, and a banquet hall that can accommodate up to 150+ seated guests. Anchored by a brand new state-of-the-art commercial kitchen, walk-in coolers, and a dock-level loading bay, the event facilities are ideal for banquets, corporate events, weddings, and more! The sprawling grounds include a large parking lot, beautiful lawns, and a botanical forest with a small amphitheatre and a series of pathways leading down to Twelve Mile Creek. The current owner recently completed a comprehensive renovation of the property; restoring and updating nearly every aspect of the building including electrical, HVAC, plumbing, mechanical and building systems as well as all of the bathrooms, surfaces, fixtures and the many opulent heritage elements. Custom high-grade carpet has even been installed on the grand staircase, bearing the crest of the original owner. No expense was spared in the renovation - a legacy project that truly was a labour of love. Now offered for sale, this landmark is ready for its next chapter. Such a rare and valuable opportunity is sure to be realized soon by the right buyer. (id:39198)
Location
Province
Ontario
City
St. Catharines
Address
109 St. Paul Crescent
Postal Code
L2S1M3
Location Highlights
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Listed by
Sotheby's International Realty Canada, 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
17,985
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
$8,999,000
Asking Price
$8,999,000
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)
17,985
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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