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Retail Property For Sale at 468 Main Street in Yarmouth, Nova Scotia

4 Sale ID #203085
Updated 02 May 2024

Asking Price

$415,000

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

Take a look at this unique historical building in centre town Yarmouth, Nova Scotia. The main level of this building was previously being used for the operation of a restaurant, the upper level is a 2 bedroom apartment. Tons of room for opportunity here! There is a second portion of the upper level that can be developed into a bachelor unit (needs to be constructed, plumbed for full bath). There is a back deck with partial views of Yarmouth Harbour and a huge outbuilding that is completely unfinished inside but with some ingenuity this could be another two unit rental with single car garage. Great opportunity for a multi-unit! When you enter the main level you will immediately notice all of its unique features; ornate wood work, concrete flooring with in-floor hot water heat (oil/wood combo furnace), and an approved wood-fired oven. Should you choose to keep this is as a restaurant; the food station can be moved allowing for various seating arrangements, and there is a raised section that would allow for seating larger crowds. The basement level was completely sheet-rocked to meet code, as well as newer electrical and mold proof paint. A section of the basement also houses great storage for the restaurant. The restaurant was approved for NSLC licensing, food safety and fire codes. This is a turn-key operation! OR develop this space into one large rental unit or two. The upper level features a huge wooden staircase and offers the unique space to expand the restaurant space or keep as a residential unit. There is a large open living space, full bath, two separate bedrooms and a kitchenette. Rent it out for income, or live upstairs while running a successful business on the main level. WOW! Come see if this is the opportunity you have been waiting for! (id:39198)

  • MLS® : #202402331
  • Date Listed : 05 Feb 2024

Location

Province

Nova Scotia

City

Yarmouth

Address

468 Main Street

Postal Code

B5A1H1

Location Highlights

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Listed by

Modern Realty Nova Scotia listing

Category

retail-properties

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

0

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

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Financial Information

Yearly Rate

$415,000

Asking Price

$415,000

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)

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EBITDA help Earnings Before Interest, Taxes, Depreciation, Amortization.

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Premises Size (square feet)

0

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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