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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,650,000
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
Great redevelopment opportunity. Corner lot with lots of exposure. Main floor has 2 vacant commercial units, the larger is divisible to maximize an income. Upgrade floor and new storefront windows. The other 2 floors ready to be renovated with floor plans showing the following 12 - 18 units. 2nd floor has 5 - 1 bedroom units with a study and a 1 bedroom unit. The second floor with the bedrooms and a study being built on a mezzanine with a view down below to the living/dining room area. The 3rd floor has 6 - bedroom units. 18 units possible building in an additional floor with 6 units/floor. 400 amp single phase hydro service and a 200 amp hydro service. Roof replaced approx.12 years ago. The Town of Midland has just finished a Downtown Revitalization Program which makes the location appealing for downtown shopping. Town dock, marina and Trans Canada Trail is located 2 blocks away at the end of King Street. (id:39198)
Location
Province
Ontario
City
Midland
Address
234-236 King Street
Postal Code
L4R3M2
Location Highlights
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Listed by
ED LOWE LIMITED 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
15,000
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
$1,650,000
Asking Price
$1,650,000
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)
15,000
Other Information
Owner willing to Finance
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Absentee Owner
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Support and Training
Not Included
Growth and Expansion
N/A
Market Competition
N/A
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