Added 2 months ago
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Type: Sale Of Business
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Property Type: Commercial
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Business Type: Restaurant
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Zoning: GC2
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Age: No Data
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Taxes: 19207.87
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MLS®#: X8045096
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Days on Site: 65 Days
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Added: Feb 01, 2024 (2 months ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: CUSHMAN & WAKEFIELD SOUTHWESTERN ONTARIO
Rare opportunity to purchase one of Sarnia's most well known & established Restaurants - Wagg's Steak & Seafood Restaurant. Established in 1990 (operating for approx. 33 years). Ranked #2 of 111 restaurants in Sarnia in 2022 by Blackburn Media. Voted Best Restaurant in Sarnia in 2022 by Blackburn media. Very Strong gross sales figures year to year. Very profitable restaurant. Great Location with plenty of on-site free parking. The Restaurant is currently 6,700 SF, which currently allows for a 90 person dining room / bar area & 90 person banquet room area. Several recent upgrades, include, but not limited to: New Pos System in Dec 2022, all new Kitchen cooking equipment in March 2022, new engineered exhaust hood system & suppression system in March 2021. Continue to operate the existing Restaurant & or Bring your own concept and turn the key with endless opportunities including but not limited to restaurant/bar, breakfast restaurant, lounge, fine dining, dinner and much more.
Extras
Existing Landlord in willing to entertain extending the lease for another 5 to 10 years. Additional financial info available.
Property
Status: Sale
Type: Restaurant
Property Type: Sale Of Business
Property Type: Without Property
Net Income: 289000
Area: Sarnia
Availability Date: FLEXIBLE
Inside
Air Conditioning: Y
Utilities
Utilities: Yes
Building
Basement: N
Heat Type: Gas Forced Air Closd
Elevator: None
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2023
Tax Legal Description: PT LANE PL 12 SARNIA CITY CLOSED BY L257152; PT TH
Taxes: $19,208
Expenses: Est
Taxes Type: Annual
Tax Year: 2023
Land
Cross Street: Christina St Near Du
Municipality District: Sarnia
Parcel Number: 432660034
Sewer: Sanitary
Lot Depth: 242.97 Feet
Lot Frontage: 178.41 Feet
Lot Irregularities: Lot Irregular Shape
Zoning: GC2
Commercial Specific
Rail: N
Retail Area: 6700
Retail Area Metric: Sq Ft
Sprinklers: N
Total Area: 1.05
Total Area Metric: Acres
Hours Open: 11:30-2
Area Influence: Public Transit
Days Open: 7
Franchise: N
Tangible Property Included: N
Lot Code: Lot
Seats: 180
Business/Building Name: Wagg's Steak & Seafood Restaurant
Financial Statement: N
Gross Income/Sales: 1929205
LLBO: N
Bridgeview Public School
Elementary: PublicLondon Road School
Elementary: PublicHanna Memorial Public School
Elementary: PublicKing George VI Public School
Elementary: PublicSt. Matthew Catholic School
Elementary: CatholicP.E. McGibbon Public School
Elementary: PublicGreat Lakes Secondary School
Secondary: PublicÉcole secondaire Franco-Jeunesse
Secondary: PublicÉcole secondaire catholique École secondaire Saint-François-Xavier
Secondary: CatholicAlexander Mackenzie Secondary School
Secondary: PublicNorthern Collegiate Institute and Vocational School
Secondary: PublicSt Patrick's Catholic Secondary School
Secondary: Catholic
