Retail PropertyFor Sale At 198 - 202 PICTON MAIN STREET In Prince Edward, Ontario
Commercial Real Estate
For Sale
Retail Properties
Ontario
Prince Edward
Retail PropertyFor Sale At 198 - 202 PICTON MAIN STREET In Prince Edward, Ontario
4 Sale ID #257150
Updated 21 Jul 2024
PHOTOS
FLOORPLANS
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Asking Price
$1,199,000
Cap RateThe capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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Lot Size
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Building Size
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Premise Summary
Own this romantic building in this well located, special historic part of Picton in Prince Edward County. Live in the spacious, enchanting 2 bedroom apartment, sit back and enjoy revenue from two store fronts, parking & basem*nt storage (all currently leased). Live in the gorgeous apartment yourself or lease out. Large balcony at the back overlooking the lush green trees. Parking for a total of 8 cars including the 1 car garage. Live the dream! Steps to many restaurants, shops, the Royal Hotel, Regent Theater. Only 15 minutes to Sandbanks Provincial Park with incredible beaches. Enjoy the energy of this beautiful town. The County has over 40 wineries and is a great place for cycling. Only two hours from Toronto. Laneway owned on side of building runs from Main St to Mary St for extra access. **** EXTRAS **** Brand new furnace in 2023. (id:39198)
MLS®:#X9012538
Date Listed:04 Jul 2024
Location
Province
Ontario
City
Prince Edward
Address
198 - 202 Picton Main Street
Postal Code
K0K2T0
Location Highlights
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Listed by
ROYAL LEPAGE SIGNATURE REALTY Ontario listing
Category
retail-properties
Property Information
Premise Status
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With Accommodation
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Tenancy
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Lot Size
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Available Space
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Building Size
Year Built
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Years Remaining in Current Lease Term
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Renewal Options
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Operational Information
Number of Working Owners
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Current Owner - years
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FF & EFurniture, Fixtures & Equipment that remain with the business.
Not Included
Inventory Value - approximateConsumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.
Not Included
Franchise
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Financial Information
Yearly Rate
$1,199,000
Asking Price
$1,199,000
Cap RateThe capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
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NOINet Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.
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Gross Revenue- annual
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Cash Flow - annual1 Take your “Net Income before Taxes”, then, 2 Add up all payments to: owners + interest + allowances for asset depreciation. 3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)
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EBITDAEarnings Before Interest, Taxes, Depreciation, Amortization.
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Premises Size (square feet)
Other Information
Owner willing to Finance
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Absentee Owner
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Support and Training
Not Included
Growth and Expansion
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Market Competition
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Prince Edward County outpaced both major and small cities throughout the country, with the highest year over year price growth at a whopping 79%. For those that have dreamt of a primary residence, second home, or investment property in the County, don't let this growth scare you!
Prince Edward County (PEC) ranks as one of the top picks in Ontario for retirees. Home to affordable housing, excellent healthcare, beaches, a booming art and music scene and 23 golf courses, there are plenty of diversions to keep retirees active. Here's our guide to retiring in the County.
If you're thinking about buying an investment property in Picton, consider that rental yields for units are currently 4.05 % with an average median rent of $ 370 weekly. Units have seen 5.51 % growth in the past quarter, and 18.58 % growth in the past 12 months.
If you are a non-resident of PEI or a corporation, and your total land holdings exceed the limits of the Lands Protection Act, then you must apply to the Island Regulatory and Appeal Commission (IRAC) for consent to purchase the land. The land holding limits are 5 acres and/or shore frontage of 165 feet.
Visitors flock to The County to explore small towns with antique shops, art galleries and farm-to-table fare. The 46-kilometre Millennium Trail stretches the length of The County, providing adventure for cyclists, hikers and birdwatchers.
A unique island-vibe community where rural roots and creative pursuits come together, The County is a place of tranquility, inspiration, hospitality and fun.
Maple Ridge is a proven market for a wide range of industries and business opportunities. Whether you are a small start-up, a home-based business, or a large corporation, your business can be a success in Maple Ridge. Learn more about some of the many industries that make Maple Ridge thrive.
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The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.
