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Office Space For Sale at 151-153 JAMES Street S in Hamilton, Ontario

New
4 Sale ID #241578
Updated 20 Jun 2024

Asking Price

$4,999,900

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.

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Lot Size

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Building Size

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Premise Summary

Prime Commercial Building with High-End Restaurant and Boutique Office Space. Excellent Location! This fully leased income property is situated in the prime restaurant district of South End Hamilton, adjacent to the GO Station and upcoming LRT line. This commercial asset houses two tenants: High-End Restaurant and Boutique Office Spaces (office spaces could be rented out to multiple tenants). Restaurant: New 10-year Carefree Triple NET lease with GTA restaurant group which invested $500k in the site, including multi-level patio with 150 outdoor patio seats, and over 200 indoor seats. Office Spaces: Second and third floors offer boutique office spaces with private balcony. Income: Generates substantial rental income with annual escalations and recoveries. Numerous new developments in the vicinity including boutique hotel and other GTA restaurants. Great cap rate with a solid net operating income. Future Potential: Zoned for high-density residential development. Beautifully preserved building with high ceilings, tin finishes, and exposed brick walls. Take Quick Action! With mortgage rates predicted to go down in a few days, now is the perfect time to grab this amazing deal. Don’t miss out on this exceptional investment opportunity in a rapidly growing area. (id:39198)

  • MLS® : #40592902
  • Date Listed : 21 May 2024

Location

Province

Ontario

City

Hamilton

Address

151-153 James Street S

Postal Code

L8P2Z5

Location Highlights

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Listed by

COSMOPOLITAN REALTY Ontario listing

Category

office-spaces

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

9,177

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 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

$4,999,900

Asking Price

$4,999,900

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.

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Gross Revenue- annual

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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)

9,177

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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