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Benefits
Asking Price
$1,075,000
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
Possibility: the condition or fact of being possible. If you are searching for your next adventure, welcome to 290 Clarke's Rd.! This 7 acre parcel offers plenty of possibilities for the entrepreneur or investor. The corner lot has a large road frontage, with easy access from Highway 6. This location on Northern Bruce Peninsula is central to various local attractions (hiking trails, beaches, shops, etc.). The property offers a large, scenic lawn space along with mature treed areas and natural rockery. Plenty of parking afforded along with an attached garage and workshop. The building offers over 5,500sq.ft. The expansive grand room provides comfort with high ceilings, fireplace and original wooden features plus stone floor. There is easy access to the open kitchen, plus a bar area (which would be perfect for a DJ). The main floor affords plenty of storage space, plus an additional 700+sq.ft. of unfinished area with separate entry (which would make a great caretakers unit for someone with the right vision!). Also on the main level are two large conference rooms, which could be used as offices, storage or for a meeting room. The building boasts 7 bedrooms and 7 private bathrooms, plus an additional 3 stall washroom on the main level. The upper level has updated flooring and lighting. Guests will love the walkout from their room to the upper level balcony! Are your wheels turning yet? The property has Commercial zoning which allows for a wide range of potential uses! * Lodge * Restaurant * Specialty Shops * General Store * Miniature Golf Course * & More! Consider hosting events, conferences, or rental possibilities. There is plenty of history here, formerly known as Colonel Clarke's Tavern. Step inside and feel the memories.... then get ready to make your own! (id:39198)
Location
Province
Ontario
City
Northern Bruce Peninsula
Address
290 Clarke's Road
Postal Code
N0H1W0
Location Highlights
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Listed by
RE/MAX GREY BRUCE REALTY INC Brokerage (Tobermory) 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
5,500
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
$1,075,000
Asking Price
$1,075,000
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)
5,500
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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