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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,895,000
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
Incredible opportunity! This stunning historic commercial/residential building offers a total footprint of +/- 16,303 sqft. The front is divided into a commercial/retail space and two stunning 2 bedroom, 2 bathroom apartment units with premium rents. The back of the building has approved plans to create 8 two-storey townhomes within the beautiful stone structure. An additional possibility to be converted to a condominium corp. exists with the potential of 1 to 2 parking spots each. The two apartment units have been lovingly renovated to create stylish and luxurious living spaces with large living areas, beautifully finished kitchens and bathrooms, and a view over the bustling downtown core. The property offers 16 parking spaces in the back as well as an oversized detached garage that could be converted into 10 storage units. Conveniently located in downtown Brockville, close to the waterfront, premium retailers such as Shoppers Drug Mart, and is in a high traffic area. This is the dream investment opportunity you have been looking for to provide retail space and luxurious living opportunities, while gaining a healthy ROI through existing residential and commercial tenancies and encouraging the ongoing revitalization of the Brockville core. (id:39198)
Location
Province
Ontario
City
Brockville
Address
224 King Street W
Postal Code
K6V3R8
Location Highlights
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Listed by
Royal LePage ProAlliance Realty, Brokerage 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
16,303
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
$1,895,000
Asking Price
$1,895,000
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)
16,303
Other Information
Owner willing to Finance
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Absentee Owner
N/A
Support and Training
Not Included
Growth and Expansion
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Market Competition
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