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Type: Sale Of Business
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Property Type: Commercial
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Zoning: H - Community Sh
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Age: No Data
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Taxes: 15730.43
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MLS®#: X10404406
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Days on Site: 48 Days
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Added: Oct 24, 2024 (1 month ago)
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Updated:
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Last Checked: 2 hours ago
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Listed By: Sotheby's International Realty Canada, Brokerage
A true landmark, this stunning mixed-use property offers a fabulous investment with both strong appreciation and cashflow upside. Home to the iconic, well-established Rapscallion Restaurant on the main and basement levels, this building also includes five apartments on the upper floors. The main floor restaurant unit is truly a showpiece; fully renovated into a luxurious fine dining establishment only four years ago. Lavishly finished with fine materials and truly beautiful design, the sprawling restaurant is licensed for 140 guests indoors and offers a huge, partially-covered 30-seat patio behind the building. In addition to the substantial renovations done to the main and lower levels, two of the apartments have been renovated, and additional work has been done two other units. Despite the residential rents being well below market, this exceptional building is being offered at a 5.5% cap rate. Located in the heart of the thriving James North arts and dining district, this building is surrounded by cafes, shops, and thousands of residential units under construction! It is also only a short walk to the financial core, the West Harbour GO station, and the $280 million arena project. It doesn't get better than this: location, cashflow, stability, and upside!
Property
Status: Sale
Property Type: Sale Of Business
Property Type: With Property
Area: Hamilton
Community: Beasley
Availability Date: Flexible
Assessment Amount: $580,000
Assessment Year: 2024
Building
Basement: Y
Water Supply: Municipal
Fees
Tax Year: 2024
Tax Legal Description: PT LT 9 JAMES HUGHSON SURVEY (UNREGISTERED) E/S JAMES ST BTN CAN
Taxes: $15,730
Land
Cross Street: Located on the east
Municipality District: Hamilton
Parcel Number: 171610022
Sewer: Sewers
Lot Depth: 152.65 Acres
Lot Frontage: 37.42 Acres
Zoning: H - Community Sh
Commercial Specific
Total Area: 5522
Total Area Metric: Sq Ft
Area Influence: Public Transit
Seats: 140
Business/Building Name: Rapscallion Rogue Eatery
Central Junior Public School
Elementary: PublicHess Street Junior Public School
Elementary: PublicSt. Lawrence Catholic Elementary School
Elementary: CatholicBennetto Elementary School
Elementary: PublicDr. J. Edgar Davey (New) Elementary Public School
Elementary: PublicQueen Victoria Elementary Public School
Elementary: PublicKing William Alter Ed Secondary School
Secondary: PublicTurning Point School
Secondary: PublicÉcole secondaire Georges-P-Vanier
Secondary: PublicSt. Charles Catholic Adult Secondary School
Secondary: CatholicSir John A Macdonald Secondary School
Secondary: PublicCathedral High School
Secondary: Catholic
