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Retirement Home For Sale at 71 QUEEN ROAD in Prince Edward, Ontario

updated
4 Sale ID #241663
Updated 24 Jul 2024

Asking Price

$1,590,000

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

Lot Size

N/A

Building Size

N/A

Premise Summary

Acquire a piece of history with this captivating residence- a stately home dating back to circa 1880! Known affectionately as ""The Fraser House"", the residence is currently serving as a well-established retirement home, offering space for up to ten residents. This cherished landmark embodies the elegance of a bygone era; showcasing timeless charm, exquisite millwork, and original architectural details. Spanning over 5000sf of living space, this property offers a versatile layout suited to various housing configurations. Boasting 12 private bedrooms, each complemented by its own 2 or 3-piece bathroom, the residence promotes both privacy and comfort. From the inviting living rooms and dining areas to the well-appointed kitchen and communal spaces, every corner encourages relaxation and socialization. Adding to its allure, the property features two separate lower-level apartments; one with two bedrooms, the other with three, complete with fully equipped kitchens and expansive living areas. Beyond its current use as a retirement home, this property presents a promising opportunity for investors, developers, or entrepreneurs. With minor modifications, the abundant living space can be repurposed to accommodate employees of local businesses or serve as a canvas for innovative ventures that prioritize community and convenience. Outside, you'll find a place to unwind amidst mature trees, a wraparound porch, and lush gardens. A detached insulated and heated double garage provides practical convenience. Nestled in the heart of Picton, the home offers seamless access to essential amenities such as shopping, dining, the local hospital, and recreational facilities. Whether continuing its legacy as a retirement haven or envisioning a new dream, seize the chance to make a positive impact on our beloved community of Prince Edward County! Explore this expansive property today and discover why you too can Call The County Home. **** EXTRAS **** Laundry available on all three levels. (id:39198)

  • MLS® : #X8364812
  • Date Listed : 23 May 2024

Location

Province

Ontario

City

Prince Edward

Address

71 Queen Road

Postal Code

K0K2T0

Location Highlights

N/A

Listed by

KELLER WILLIAMS ENERGY REAL ESTATE, BROKERAGE Ontario listing

Category

institutional-properties retirement-homes

Property Information

Premise Status

Includes REAL ESTATE

With Accommodation

N/A

Tenancy

N/A

Lot Size

N/A

Available Space

N/A

Building Size

5,188

Year Built

N/A

Years Remaining in Current Lease Term

N/A

Renewal Options

N/A

Operational Information

Number of Working Owners

N/A

Current Owner - years

N/A

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

N/A

Financial Information

Yearly Rate

$1,590,000

Asking Price

$1,590,000

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.

N/A

Gross Revenue- annual

N/A

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)

N/A

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

N/A

Premises Size (square feet)

5,188

Other Information

Owner willing to Finance

No

Absentee Owner

No

Support and Training

Not Included

Growth and Expansion

N/A

Market Competition

N/A


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