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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$6,490,000
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
Marquee building offered for sale in the heart of downtown Hamilton directly on LRT line. Over 32,000 square feet of above ground space spread out over three sprawling floors and sitting on over a quarter of an acre land. The property has great prominence in the downtown core, being the former HQ of the Hamilton Spectator and is appropriately now branded as the Writer's Block. The ground floor is split up into 5 retail units, with a common hallway and lobby leading to the an elevator that services the upper floors. There are currently two vacant ground floor units that are excellent opportunities to bring in your own tenants. The second floor is perfect for a hospitality tenant as it was a former Ping Pong Bar and Nightclub Lounge. This space is also available to lease-up to the savvy investor with connections in the Entertainment and Hospitality Industries. The third floor is a home to one of Hamilton's longest tenured co-working space. This property is a perfect mixture of stable income and value add opportunity in Hamilton's vibrant and ever changing downtown core. Additional due diligence information upon request. (id:39198)
Location
Province
Ontario
City
Hamilton
Address
105 - 115 King Street E
Postal Code
L8N1A9
Location Highlights
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Listed by
Ambitious Realty Advisors Inc. 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
32,556
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
$6,490,000
Asking Price
$6,490,000
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)
32,556
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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