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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$2,840,000
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
N/A
Premise Summary
Water Front Property with C7-A Zoning. C7-A Zoning allows a mix of commercial & residential uses compatible with the West Bay including Tourist Accommodation.This is the only location in Esquimalt w/this zoning remaining. Site coverage is Currently limited to 40% but can build up to 11.7 meters (38.4 ft). With new provincial regulation eliminating most short term rental accommodations, this zoning allows the owner to capitalize on less competition & the projected increase in overnight rates after the ban comes into place in May 2024 realizing good holding income while deciding what to do with the property long term. Properties at 474 Head St have been rezoned into a Comprehensive Development Zone (CD-98) w/allowable FSR of 1.3 & no site coverage restrictions aside from required setbacks Properties at 464 & 460 Head St have been rezoned to ComprehensiveDevelopmentZone(CD 103) w/allowable FSR of 1.32 & no site coverage restrictions aside from required setbacks. (id:39198)
Location
Province
British Columbia
City
Esquimalt
Address
485 Head St
Postal Code
V9A5S1
Location Highlights
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Listed by
William Wright Commercial Real Estate Service - Victoria Branch British Columbia listing
Category
Property Information
Premise Status
Includes REAL ESTATE
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
0
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
$2,840,000
Asking Price
$2,840,000
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)
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EBITDA
Earnings Before Interest, Taxes, Depreciation, Amortization.
N/A
Premises Size (square feet)
0
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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