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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$4,300,000
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
Welcome to a rare and substantial land opportunity in the coveted Wedgewood community, offering an exceptional 5.18 acres with frontage on Kearney Lake Road. This unique parcel presents an unparalleled canvas for developers or those seeking ultimate tranquility and privacy mere minutes from the bustling city center of Halifax. The property boasts a variety of elevations and is adorned with an incredible Hemlock forestry. The strategic inclusion of a right of first refusal to an adjoining plot of 1.3 acres enhances the potential for expansion and customization. Opportunities abound for astute developers to capitalize on the diverse topography and modify boundaries to create additional building lots. Alternatively, for those envisioning ambitious plans, consider exercising the right of first refusal on the adjacent parcels, unlocking the potential for even more expansive projects. This comprehensive package comprises four PID's, currently featuring 245 feet of frontage on Kearney Lake Road. Civic #42 is home to a custom-built, multi-tiered residence, standing proudly for 39 years. This spacious 3,800 square feet home boasts 4 bedrooms, 2.5 baths, and includes an additional rental suite with 1 bed and 1 bath, adding flexibility and income potential. Not a developer; create an estate for generations by making your own mark on this existing home and divide off building lots to maximize your value. Civic #44 spans across three lots and currently hosts an older bungalow, offering a prime opportunity for demolition and optimal space utilization. The endless possibilities for redevelopment make this property an enticing prospect for those with a vision. The two PID's available for right of first refusal present an additional 185 feet of frontage on Kearney Lake Road, further expanding the potential for this already remarkable offering. Don't miss out on this once-in-a-lifetime opportunity to own a substantial and versatile piece of land in the heart of Wedgewood. (id:39198)
Location
Province
Nova Scotia
City
Halifax
Address
42 & 44 Kearney Lake Road
Postal Code
B3M2S4
Location Highlights
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Listed by
Engel & Volkers Nova Scotia 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
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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
$4,300,000
Asking Price
$4,300,000
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)
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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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