178 James Street North, Hamilton | Image 1

178 James Street North

Hamilton, Beasley

  • Commercial

$3,399,000
For Sale

Added 1 week ago

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  • Type: Sale Of Business

  • Property Type: Commercial

  • Zoning: H - Community Sh

  • Age: No Data

  • Taxes: 15730.43

  • MLS®#: X10404406

  • Days on Site: 10 Days

  • Added: Oct 23, 2024 (1 week ago)

  • Updated:

  • Last Checked: 10 hours ago

  • 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

JK-5

Central Junior Public School

Elementary: Public
1.00 km
JK-8

Hess Street Junior Public School

Elementary: Public
0.75 km
JK-8

St. Lawrence Catholic Elementary School

Elementary: Catholic
1.11 km
JK-8

Bennetto Elementary School

Elementary: Public
0.83 km
JK-8

Dr. J. Edgar Davey (New) Elementary Public School

Elementary: Public
0.65 km
JK-8

Queen Victoria Elementary Public School

Elementary: Public
1.42 km
9-12

King William Alter Ed Secondary School

Secondary: Public
0.83 km
9-12

Turning Point School

Secondary: Public
0.87 km
9-12

École secondaire Georges-P-Vanier

Secondary: Public
2.30 km
9-12

St. Charles Catholic Adult Secondary School

Secondary: Catholic
2.63 km
Pre-Grade 9-12

Sir John A Macdonald Secondary School

Secondary: Public
0.50 km
9-12

Cathedral High School

Secondary: Catholic
1.50 km
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