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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,510,000
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
Here is an absolute perfect one-of-a-kind opportunity for a commercial owner-operator to purchase a strata unit in the heart of Pandosy Village! This space is currently set-up for a chef to use the custom-made commercial kitchen but can be repurposed for any use within the UC5 zoning. The total unit measures 1,678sq. ft (155.9 sq. metres). The purchaser will have 1,020sq.ft of usable space in the kitchen for take-out menus or catering. The remaining 658 sq. ft has been leased out to a flower shop until 2028. This tenant will cover the expenses so the owner-operator can focus on their business! This unit includes 3 designated parking stalls and has 3 individual entrances at ground level, entering directly off Tutt Street and Osprey Ave. This spot is completely turnkey and includes all the kitchen equipment. Strata fees are currently $788.77/month. Why lease a space when you can have the freedom of ownership in a sought-after Worman-built building in an iconic part of town? (id:39198)
Location
Province
British Columbia
City
Kelowna
Address
2720 Tutt Street
Postal Code
V1Y5A7
Location Highlights
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Listed by
Coldwell Banker Horizon Realty British Columbia 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
1,678
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
$1,510,000
Asking Price
$1,510,000
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)
1,678
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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