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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,900,000
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
N/A
Building Size
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Premise Summary
First Pilgrim United Church is a well maintained Beaux Arts institutional property prominently located in Hamilton’s downtown core. Constructed in 1912, the building showcases an impressive architectural presence with its symmetrical facade, six full height Corinthian columns, and classic stone detailing. Offering nearly 20,000 sq ft of usable space across the main level mezzanine and finished basement, the property provides a highly functional and versatile layout. The bright and spacious sanctuary was substantially updated as part of extensive building wide renovations completed in 1984. It features beautiful woodwork, stained glass elements, an organ loft, and an upper balcony with additional seating and an integrated audio visual booth overlooking the main hall. The building includes a full gymnasium and hall, a commercial style kitchen, multiple offices, reception areas, meeting rooms, and a functioning elevator servicing the main and lower level. Most of the current expenses are covered by a portion of the lower level and various other rooms currently leased, generating approximately $6,900 in monthly income. Positioned along a major downtown corridor, the property offers excellent visibility and easy access to public transportation. With its generous square footage, strong architectural character, and well maintained condition, this landmark building is suited for continued institutional use or a wide range of future redevelopment possibilities. (id:39198)
Location
Province
Ontario
City
Hamilton
Address
Main
Postal Code
L8N1H3
Location Highlights
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Listed by
M. Marel Real Estate 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
19,639
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
N/A
Financial Information
Yearly Rate
$1,900,000
Asking Price
$1,900,000
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.
N/A
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)
N/A
EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
N/A
Premises Size (square feet)
19,639
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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