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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$495,000
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
Here is a prime commercial property located in the center of O'Leary, this has been a seniors home for many years with 24 rooms in use and another 5 unused in the upstair section of the property. The property will be sold as an empty building, no business. There are 11 baths with 4 being full and remainder are halfs. The front of the building is an entertainment room where residents meet and chat. There are two add ons that is where the rooms are located and the 2 storey house is in the middle with the unused upstair bedrooms and the kitchen and dining rooms are in the lower level. There is a partial basement area and the add on sections have crawl spaces. The exterior of the building has wood siding and vinyl siding and roof is asphalt shingles. There is a sprinkler system and the heat is provided by hot water system, a forced air furnace and a heat pump. There is lots of potential in this property for whatever your needs may be. For any potential sale the closing or completion cannot happen until the spring of 2024 as the present residents will not be moving out until then. Call me today on this before this opportunity slips by. Property being sold in as is condition. (id:39198)
Location
Province
Prince Edward Island
City
Oleary
Address
490 Main Street
Postal Code
C0B1V0
Location Highlights
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Listed by
CENTURY 21 NORTHUMBERLAND REALTY Prince Edward Island 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
8,123
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
$495,000
Asking Price
$495,000
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)
8,123
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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