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Benefits
Asking Price
$4,750,000
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
Exceptionally Updated Opportunity in the Village of St. Jacobs! 1370 King Street N. & 1374 King Street N. in the heart of the village offers a vibrant scene. No expense was spared when this building was transformed into a multi-use office and event space in recent years. The site offers ten parking spaces, an EV station, and a substantial inviting patio space. Attention to detail is noticeable throughout both the interior spaces and structural elements of the building. The front portion contains seven individual office nooks (with sinks), each roughly 100 square feet in size. There are two separate bathrooms and open access to the multi-use event space. The large open area at the back of the building has a high-end sound system, fibre optics, and fantastic lighting. There is a dynamic modern open kitchen with Elmira Stove Works appliances and inviting bar seating. An accessible washroom is just beyond the separate entrance to this event space, offering the ability to explore many tenancy options. There is yet another separate entrance to the finished lower level, which includes two more bathrooms, two soundproofed offices, finished open space and storage rooms. Mechanically speaking, this building has been updated with a top-of-the-line Viessmann boiler system and 400 amp electrical service. The vast majority of the supporting posts were replaced and reinforced, offering an exceptionally structurally sound building. 1370 King Street N. is offered as a parcel sale with 1374 King Street N. a unique retail and one-bedroom apartment building. Currently operating with a main floor retail store with an open concept. The retail portion of the building offers an inviting wet bar area. A separate entrance at the side of the dwelling leads to a self-contained, tastefully updated one-bedroom apartment. Zoned C1, this property provides many opportunities for savvy investors looking to expand their portfolio in one of Canada's premiere tourist destinations. (id:39198)
Location
Province
Ontario
City
St. Jacobs
Address
1370 King Street N
Postal Code
N0B2N0
Location Highlights
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Listed by
PEAK REALTY LTD. 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
3,068
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
$4,750,000
Asking Price
$4,750,000
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)
3,068
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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