$ 3,399,000
178 JAMES Street N Hamilton, ON L8R2L1
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$ 3,399,000
Est. payment | /mo
5,522 SqFt
$ 3,399,000
Est. payment | /mo
5,522 SqFt
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 5,522 sqft
Price per Sqft $615
Subdivision 140 - Beasley
MLS® Listing ID 40653231
Originating Board The Oakville, Milton & District Real Estate Board
Lot Size 5,793 Sqft
Acres 5793.48
Property Description
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! (id:24570)
Location
Province ON
Exterior
Garage No
Community Features High Traffic Area
View Y/N No
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Sotheby's International Realty Canada, Brokerage