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Institutional Property For Sale at 205 KING Street in Harriston, Ontario

4 Sale ID #234867
Updated 24 Jul 2024

Asking Price

$749,000

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

Lot Size

N/A

Building Size

N/A

Premise Summary

Previously operated as White House Rest Home, and a 15-bed group home that was operated compliant with fire regulations, including installed fire suppressant sprinklers throughout the dwelling. The property features a unique building with significant potential for modifications, upgrades or a complete rebuild on the spacious 82.5 x 132 ft lot adjacent to green space. It includes two outbuildings that can be used for additional storage space. Zoned for institutional and residential uses, the property offers multiple redevelopment opportunities to transform into a rest home, group home, day nursery, or potentially a duplex or single-family residence. A durable metal roof protects this expansive building, encompassing over 3,700+/- sq ft with 15 beds, 6 bathrooms large sunroom and 2 kitchens. Let your imagination shape the future of this versatile property. (id:39198)

  • MLS® : #40583148
  • Date Listed : 03 May 2024

Location

Province

Ontario

City

Harriston

Address

205 King Street

Postal Code

N0G1Z0

Location Highlights

N/A

Listed by

Royal LePage Meadowtowne Realty Brokerage Ontario listing

Category

institutional-properties

Property Information

Premise Status

N/A

With Accommodation

N/A

Tenancy

N/A

Lot Size

N/A

Available Space

N/A

Building Size

3,775

Year Built

N/A

Years Remaining in Current Lease Term

N/A

Renewal Options

N/A

Operational Information

Number of Working Owners

N/A

Current Owner - years

N/A

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

$749,000

Asking Price

$749,000

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.

N/A

Gross Revenue- annual

N/A

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)

3,775

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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