Royal LePage Don Hamilton Real Estate Brokerage
14 Clinton Street S Teeswater, Ontario N0G 2S0
$499,900
If you are looking for a great investment building to add to your portfolio then have a look at this one. As it stands this building caps out at about 7% on top of any finances related to the restaurant. The restaurant business is included in the sale price giving the buyer an opportunity to run the business or to rent the space out to another entrepreneur. Estimated rental rate is about 3000 making the cap rate on this building jump to about 14%. The building is fully rented but 2 or possibly 3 units can be vacant on closing allowing the buyer to give units a facelift and set market rents. Whether you are looking for that perfect investment or if you have been thinking about starting a restaurant then call today to view and get the ball rolling. This is the only restaurant in town and has been in the same family for 48 years. The second generation owner is ready to retire and start the next chapter of her life. Boomers Restaurant (formerly The Cosy Nook) is known far and wide for the great food at reasonable prices. It has served as the community hub and breakfast hot spot for years. Current owner closes the restaurant daily at 2:00 so there is opportunity to expand hours and increase revenue. Opportunities abound with this property. (id:51300)
Property Details
| MLS® Number | 40435834 |
| Property Type | Multi-family |
| Neigbourhood | Teeswater |
| Amenities Near By | Place Of Worship |
| Features | Corner Site |
Building
| Bathroom Total | 1 |
| Bedrooms Total | 8 |
| Basement Development | Unfinished |
| Basement Type | Partial (unfinished) |
| Cooling Type | Ductless |
| Exterior Finish | Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Foundation Type | Stone |
| Heating Fuel | Natural Gas |
| Heating Type | Boiler |
| Stories Total | 2 |
| Size Interior | 5000 |
| Utility Water | Municipal Water |
Parking
| Attached Garage |
Land
| Access Type | Highway Nearby |
| Acreage | No |
| Land Amenities | Place Of Worship |
| Sewer | Municipal Sewage System |
| Size Depth | 132 Ft |
| Size Frontage | 42 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Commercial/residential |
https://www.realtor.ca/real-estate/25701987/14-clinton-street-s-teeswater
Perry Caskanette
Salesperson
(519) 433-6894
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August 16 2023 02:01:15
London and St. Thomas Association of REALTORS®
Sutton Group - Select Realty Inc., Brokerage