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BrokerStudio
Suite of tools & services
Benefits
Asking Price
$1,500,000
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
LOCATION LOCATION LOCATION! This exceptional commercial property presents a unique opportunity as it is currently divided into two separate units. Boasting over 24,000 square feet, 7,000 square feet already leased on one side by City Flooring, there is an immediate income stream in place. However, the possibilities for this building and property extend far beyond its current configuration. Sitting on a spacious 3.14-acre parcel with excellent highway exposure, this property offers endless possibilities for expansion and development. The existing division into two separate units provides flexibility for various business ventures. You can capitalize on the existing income stream from the leased unit while exploring the potential of the remaining space. The property's prime location and ample space make it perfect for a retail/warehouse mix or even a manufacturing facility with a showroom. The mezzanine overlooking the showroom floor adds an additional level of functionality and visual appeal. With the additional lot included, there is further room for expansion or alternative revenue-generating opportunities. You can consider adding onto the current building, expanding the driveway space, or even selling the .66-acre lot next to the building. The property's positioning on a hill enhances its visibility and makes it a standout location for those driving into Summerside. Its C-2 zoning designation allows for a wide range of commercial uses, providing even more flexibility for your business plans. Take this opportunity to capitalize on the property's prime location, income potential, and ample space. Explore the possibilities, unlock its full potential, and make this property the foundation for your business's success. (id:39198)
Location
Province
Prince Edward Island
City
Summerside
Address
601 Read Drive
Postal Code
C1N5C2
Location Highlights
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Listed by
CENTURY 21 NORTHUMBERLAND REALTY Prince Edward Island listing
Category
Property Information
Premise Status
Includes REAL ESTATE
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
25,782
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
$1,500,000
Asking Price
$1,500,000
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)
25,782
Other Information
Owner willing to Finance
No
Absentee Owner
No
Support and Training
Not Included
Growth and Expansion
N/A
Market Competition
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