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Asking Price
$1,480,000
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
The subject property is well located in a small plaza at the intersection of Denison St/Esna Park Dr accessible via both roads. Topography is Level at grade with Denison St and Esna Park Dr. The subject is closed to 404, 401, major traffic arteries and public transit. The unit is at the central part of the complex and has direct street frontage exposure on Denison St. Built in the 1980's, the plaza is well maintained and fully occupied, mostly by property owners. The rare-find ceiling height of 20ft, allows the construction of a mezzanine flr of 1,100SqFt with functional lay-out of a private office, open office, staff rest area, 2-pcs washroom. The mezzanine floor is accessible from the front as well as from the warehouse at the back. The zoning is BC-Business Corridor, permits a wide range of commercial, office and industrial uses. A maximum area of 40% of the Gross Floor Area (2219SqFt) can be devoted to retail space, which is exactly what the present owner is doing and the business flourishes in the 18 yrs of operation on the spot. The back part is a warehouse with 1 drive-in door and 1 back door. Roof is Flat tar and gravel, Roof mounted heat/cool unit for office, Gas fired unit heater in shop. Ample Customers Parking is right at the front, and at the back. Note that the owner is selling the property only with plans of moving to a bigger property, and not selling the business. Vendor lease back is possible when suitable premises are not found in time. 1)Warehouse of 1319SqFt approximately and is accessible by a back door, and a drive in. There is a walk-in freezer measuring 8ft6in x 8ft6in x7ft4in. 2)Retail store of 900 sq ft approx. Above 1+2 add up to 2219 sq. ft. 3)The mezzanine flr measures about 1100SqFt. which is fully useable and functional, however does not count into the total useable area. It us accessible from the front and from the warehouse at the back. It has an executive office, open office, a kitchenette, staff rest area, and a 2-pc washroom. (id:39198)
Location
Province
Ontario
City
Markham
Address
Esna Park
Postal Code
L3R1E3
Location Highlights
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Listed by
CENTURY 21 ATRIA REALTY 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
2,219
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
$1,480,000
Asking Price
$1,480,000
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)
2,219
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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