78 Melvin Av - Bar FOR SALE


Hamilton, ON L8H 2J5- Hamilton Central East B
$1,385,000 CAD
78 Melvin Av, Hamilton, ON for Sale
$1,385,000 CAD
Bar - FOR SALE
1/10
null | Request Cap Rate

NEW


78 Melvin Av
Hamilton, ON L8H 2J5
Hamilton Central East B


HIGHLIGHTS

  • Fully Renovated Top to Bottom, Inside and Out 2024. All permits closed, occupancy permit in place.
  • Main level tenanted, Upper residential units available fully vacant upon closing
  • 4.7% cap at approx. 50% leased, with 7+% projected when fully occupied
  • Basement currently vacant and also available for added value Retail
  • Recent Appraisal December 2024

OVERVIEW

Fully Renovated Mixed-Use Investment Opportunity With Lots of Room to Add Value and Income Property Overview: Unique investment opportunity with immediate cash flow and significant upside. Situated in a prime Hamilton location, this mixed-use building has been extensively renovated and completely updated throughout (permits in place). Recent appraisal confirms its market value and highlights the property’s strong potential. - City of Hamilton Zoning: C2 Key Features: Full List of Improvements available including renovation list, permits and drawings. - Every inch of this building has been thoughtfully renovated with attention to detail. The property boasts updated electrical, plumbing, roofing, and modernized interior finishes, ensuring minimal maintenance costs in the near term. Ground Floor: A well-established, fully-tenanted bar, providing reliable income. This business has been operating successfully, providing a steady cash flow stream for the new owner. Upper Residential Units (4br and 1br): Two vacant, beautifully renovated residential units ready for immediate occupancy. These units offer modern finishes and appeal to a wide range of potential tenants, from young professionals to families. Basement: A spacious, unfinished basement with tall ceilings that offers various possibilities for further development, additional retail rental income, or storage use. - Certificate of Zoning Verification - (was originally obtained for a proposed additional of a cannabis retail store in the basement) Recent Appraisal Available: The property has been recently appraised December 2024.

FOR SALE DETAILS

PRICE

$1,385,000 CAD

PRICE/SF

$422 CAD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bar

ADD'L SUBTYPES

Restaurant, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

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