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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$3,240,000
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
12,000~ SQ FT OF PRIME C1 COMMERCIAL SPACE AVAILABLE FOR PURCHASE W/ 6,000 SQ FT ALREADY LEASED. THIS PROPERTY IS ALSO AVAILABLE FOR LEASE IN PART OR IN WHOLE. FANTASTIC EXPOSURE ON ONE OF LEAMINGTON'S MAIN ARTERIES AND TONS OF PARKING ON SITE MAKE THIS A GREAT OPPORTUNITY FOR AN EXPANDING BUSINESS SUCH AS ENGINEERING/PLANNING ETC. FEATURES INCLUDE BACK-UP GENERATOR, ABILITY TO BE SUB-DIVIDED TO ACCOMMODATE MULTIPLE BUSINESSES, AND W/ LOTS OF LOWER LEVEL OPPORTUNITIES. ALL MAIN FLOOR AREAS HAVE BEEN FULLY RENOVATED W/UPPER END FINISHES, LOTS OF GLASS & PORCELAIN INCLUDING GLASS DIVIDING WALLS IN OFFICES CREATING AN OPEN CONCEPT FEEL, SEPARATE KITCHENS/BATHROOMS IN EACH SECTION. LG CUSTOM BARN DOORS IN CONFERENCE MEDIA ROOM WHICH ALSO HAS THE POTENTIAL FOR ADDITIONAL RENTAL INCOME INCLUDING UPSCALE RESTAURANT/CAFE, LOWER LEVEL COULD ALSO BE USED FOR LOCKABLE STORAGE. ALL LEASE USES TO BE APPROVED BY THE OWNER. (id:39198)
Location
Province
Ontario
City
Leamington
Address
38 Erie Street North
Postal Code
N8H2Z3
Location Highlights
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Listed by
CENTURY 21 LOCAL HOME TEAM REALTY INC 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
12,000
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
$3,240,000
Asking Price
$3,240,000
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)
12,000
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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