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:47423)
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Detailed Information
Amenities Nearby
Public Transit
Equipment
Water Heater
Listing Contract Date
2024-10-24
Location Description
Located on the east side of James St N just north of Cannon St E
Property Type
Retail
Rental Equipment
Water Heater
Transaction Type
For sale
Zoning Description
H - Community Shopping and Commercial
Business
Name
Rapscallion Rogue Eatery
Building
Basement Type
Partial
Utility Water
Municipal water
Land
Total Size
Unit=37.42 x 152.65 Acre | under 1/2 acre
Amenities
Public Transit
Sewer
Sanitary sewer
Size of Irregular Land
Unit=37.42 x 152.65 Acre
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