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Mixed-Use Property For Sale at 225 LOCKE Street S in Hamilton, Ontario

updated
4 Sale ID #240270
Updated 20 Jun 2024

Asking Price

$1,849,000

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

Exceptional, Locke Street mixed use property. Above average condition with ongoing updates. Main floor commercial unit includes main lvl, rear ground lvl, and basement. Its lease is 2nd five-year term; 2 further five-year options end 2035. Front and side patio uses by commercial tenant are municipally approved. Tenant is successful, multi-location operation. Kitchen in above average condition. Main seating area includes marvelous glassed in space. Exterior finishes offer great curb appeal and marvelously glassed deck area. Upper 2 floor unit has potential as 2 units. Viewings w/24 hours notice for residential and between 11 am and 8 pm for commercial space preferred; listing REALTOR® to attend. Owned water heaters, HVAC serves main floor and electric heat for upper floors. 600-volt, 200 amp service has 2 step down transformers and four separate services. One gas service. (id:39198)

  • MLS® : #H4194408
  • Date Listed : 18 May 2024

Location

Province

Ontario

City

Hamilton

Address

225 Locke Street S

Postal Code

L8P4B6

Location Highlights

N/A

Listed by

RE/MAX Escarpment Realty Inc Ontario listing

Category

mixed-use-properties

Property Information

Premise Status

Includes REAL ESTATE

With Accommodation

N/A

Tenancy

N/A

Lot Size

N/A

Available Space

N/A

Building Size

3,998

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

$1,849,000

Asking Price

$1,849,000

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)

3,998

Other Information

Owner willing to Finance

No

Absentee Owner

No

Support and Training

Not Included

Growth and Expansion

N/A

Market Competition

N/A


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