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Institutional Property For Sale at 366 RIDGE Road N in Ridgeway, Ontario

4 Sale ID #250100
Updated 24 Jul 2024

Asking Price

$999,900

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

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Building Size

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Premise Summary

A remarkable opportunity as much as it is rare. The former Peoples Memorial Church is a solid and well kept almost 10000 sf building on a high profile 86 x 193 corner lot, at the centre of one of the prettiest, and most historic small towns in Ontario. It's 94' high steeple has towered over Ridgeway since 1872, and has been a local landmark seen from miles away. The possibilities are literally endless for a creative and skilled purchaser with historic sensibilities. This property could lend itself to many types of mixed use redevelopment. A mixture of commercial and residential in the rear, along with the historic main sanctuary building. The main structure has been added onto and expanded over the years, from a Sunday school addition in 1910, a basement in 1925, the gymnasium in 1932 and the rear large kitchen area of the building after that. A mixture of apartments, community uses and commercial redevelopment done in a historic manner in keeping with the history of both this property and the village, if done properly, would no doubt be well received and a welcome addition to the town. Full height basement adds another 3000 sf, and features large windows and lots of light which create further opportunity. For anyone looking for a unique, historic, and breathtaking undertaking, this could be the right property for you, and a great chance to be apart of helping to improve and accentuate this incredible community for the next 150 years! Buyer to satisfy themselves with regards to any zoning, permits, servicing, etc with the Town of Fort Erie. (id:39198)

  • MLS® : #40605477
  • Date Listed : 14 Jun 2024

Location

Province

Ontario

City

Ridgeway

Address

366 Ridge Road N

Postal Code

L0S1N0

Location Highlights

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Listed by

ROYAL LEPAGE NRC REALTY Ontario listing

Category

institutional-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

9,978

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

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Financial Information

Yearly Rate

$999,900

Asking Price

$999,900

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)

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

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Premises Size (square feet)

9,978

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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