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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$40,000
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
This well established, turn key, restaurant with 30k in prebooked business for the 2024 season could be exactly what you are looking for! Spend the season May-October in the beautiful Town of Tobermory. Space includes, restaurant, kitchen, bar, washrooms and dining area. This is a 2 year lease +HST with the option to renew. Landlord reserves the right to serve a continental breakfast for guests of the motel in the dining room from 6am - 10am. Landlord to set up, clean up and provide all food for this meal, Dining room seats 80. Parking is shared, Tenant responsible for Permits, Liquor License, Staffing, Updates, Utilities, Garbage disposal and Insurance. Included in is use of kitchen appliances (pots, pans, dishes, cutlery), chairs, tables, Bar glassware, clover system (id:39198)
Location
Province
Ontario
City
Tobermory
Address
7189 6 Highway
Postal Code
N0H2R0
Location Highlights
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Listed by
ROYAL LEPAGE RCR REALTY Brokerage (OS) 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
2,000
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
$40,000
Asking Price
$40,000
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)
2,000
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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