Kalpesh Patel (KK)
Broker
Homelife/Miracle Realty Ltd., Brokerage
Independently owned and operated.
5010 Steeles Ave. west, Toronto, Nunavut M9V5C6
Cell: 416-418-7039Office: 416-747-9777Fax: 416-747-7135
$3,399,000
Available - For Sale
Listing ID: X10404406
178 JAMES St North , Hamilton, L8R 2L1, Ontario
| 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! |
| Price | $3,399,000 |
| Taxes: | $15730.43 |
| Assessment: | $580000 |
| Assessment Year: | 2024 |
| Occupancy by: | Own+Ten |
| Address: | 178 JAMES St North , Hamilton, L8R 2L1, Ontario |
| Postal Code: | L8R 2L1 |
| Province/State: | Ontario |
| Legal Description: | PT LT 9 JAMES HUGHSON SURVEY (UNREGISTER |
| Lot Size: | 37.42 x 152.65 (Acres) |
| Directions/Cross Streets: | Located on the east side of James St N just north of Cannon St E |
| Category: | With Property |
| Total Area: | 5522.00 |
| Total Area Code: | Sq Ft |
| Area Influences: | Public Transit |
| Business/Building Name: | Rapscallion Rogue Eatery |
| Seats: | 140 |
| Sewers: | Sewers |
| Water: | Municipal |
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| Sotheby's International Realty Canada, Brokerage |
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Kalpesh Patel (KK)
Broker
Dir:
416-418-7039
Bus:
416-747-9777
Fax:
416-747-7135
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Sale Of Business |
| Area: | Hamilton |
| Municipality: | Hamilton |
| Neighbourhood: | Beasley |
| Lot Size: | 37.42 x 152.65(Acres) |
| Tax: | $15,730.43 |
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