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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$979,000
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
Welcome to your next investment opportunity located in the heart of Mitchell’s Bay. Made up of multiple revenue streams including “Bob N Buoys Bar & Boil” restaurant, 3 loft style apartments & a single bay coin car wash system with vacuum. 2 Buildings, sitting on more than a half acre of property, all within walking distance to the beach & beautiful lake St-Clair. Outside the restaurant you will find a covered patio, that can seat up to 90 people with plenty of parking. Walk inside the restaurant to find a cozy atmosphere with seating for up to 60 people. This turnkey business has been renovated with a new exhaust system, new furnace, A/C & includes an extensive list of equipment, furniture & appliances. 3 rented apartments, with a 4th apartment in the process of being added. Potential to add a 5th apartment. Loads of storage space with 2 walk in coolers, walk-in freezer & office space. This property has municipal water, city sewer, gas & high speed internet. Book a showing today! (id:39198)
Location
Province
Ontario
City
Chatham kent
Address
18 Main Street
Postal Code
N0P1L0
Location Highlights
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Listed by
ROYAL LEPAGE PEIFER REALTY 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
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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
$979,000
Asking Price
$979,000
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)
0
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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