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Industrial Property For Sale at 29 MILBURN Street in Hamilton, Ontario

New
4 Sale ID #241389
Updated 20 Jun 2024

Asking Price

$1,699,000

Cap Rate help 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

Fantastic freestanding, freehold industrial building in excellent condition. With a series of recent updates including flooring, lighting, and electrical, this property is perfect for a wide variety of uses under the generous M2 Industrial zoning. A large asphalt apron in front of the building gives plenty of room to park or loading, with additional space at the rear of the property for storage or parking. With two large roll-up doors at the front of the building and a large roll-up door at the rear, there is plenty of access for loading and driving through the space. A washroom, office, and storage closet (with washroom plumbing) complete the interior. Bright new LED lights ensure efficient lighting throughout. Equipped with 600V/200A 3-Phase power, nearly 14' clear height (16' to deck), and solid block construction, this property is well-suited to many business types. Expansion of the building has been explored with an architect and a site plan study to increase square footage to over 8000 sq ft is available upon request. Additionally, there was a clean Phase II done in 2019. This is an excellent opportunity to acquire a turnkey property in a prime location with great highway access. (id:39198)

  • MLS® : #40593197
  • Date Listed : 22 May 2024

Location

Province

Ontario

City

Hamilton

Address

29 Milburn Street

Postal Code

L8E3A3

Location Highlights

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Listed by

Sotheby's International Realty Canada, Brokerage Ontario listing

Category

industrial-properties

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

3,442

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 help Furniture, Fixtures & Equipment that remain with the business.

Not Included

Inventory Value - approximate help Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.

Not Included

Franchise

N/A

Financial Information

Yearly Rate

$1,699,000

Asking Price

$1,699,000

Cap Rate help 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.

N/A

NOI help 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 help 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)

N/A

EBITDA help Earnings Before Interest, Taxes, Depreciation, Amortization.

N/A

Premises Size (square feet)

3,442

Other Information

Owner willing to Finance

N/A

Absentee Owner

N/A

Support and Training

Not Included

Growth and Expansion

N/A

Market Competition

N/A


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