2693-2697 Eglinton Avenue East Scarborough, Ontario M1K 2S2
E X C L U S I V E
M I X E D - U S E
O F F E R I N G
M ULTIFAMILY & R ETAIL 2693-2697 Eglinton Avenue East Scarborough, Ontario M1K 2S2
OFFERING SUMMARY
INVESTMENT HIGHLIGHTS
Price
Well Maintained
Down Payment
High-End Finishes
Total Rentable SF
Frontage on Eglinton Avenue East
Price Per SF
Exposure to High Traffic as Part of a Busy
Year Built
Plaza
$2,200,000 (100%) $2,200,000 8,930 $246.36 1957 / 2014
Cap Rate - Current
6.64%
Room for Rent Increases
Cap Rate - Pro Forma
7.29%
Great Existing Financing
Total Return – Current (Including Restaurant Lease)
6.64%
100% Occupied
Total Return - Pro Forma
7.29%
Listed by:
Ample Parking
EDDEN KATZAV Salesperson, Associate Tel: 416-585-4664 Fax: (416) 585-4645 License: 4776301 [email protected] www.marcusmillichap.com/EddenKatzav
Offices Nationwide
20 Queen St r eet W, Suit e 2300 T or o n t o , On t ar i o M 5H 3R 3 • T el : ( 416) 585- 4646 Fax: ( 416) 585- 4645
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2014 Marcus & Millichap (Activity ID: V3010024 Property ID: 1972612)
2693-2697 EG LINT ON AVENUE EAST • SC ARBOR OUG H, ONT ARIO M1K 2S2 OPERATING DATA Income
Current
Apartments - Gross Rent
$80,760
$90,600
Retail - Gross Rent
$98,100
$102,600
Combined Gross Potential Rent
$178,860
$193,200
Gross Potential Income
$178,860
$193,200
Effective Gross Income
$178,860
$193,200
Less: Combined Expenses
Pro Forma
$32,800
$32,800
$146,060
$160,400
Net Cash Flow After Debt Service
6.64% / $146,060
7.29% / $160,400
Total Return
6.64% / $146,060
7.29% / $160,400
Net Operating Income
INVESTMENT OVERVIEW A rare opportunity to purchase a regularly renovated premises including two retail spaces and a restaurant, with
20 Queen Street W Suite 2300 Toronto, Ontario M5H 3R3 Tel: (416) 585-4646 Fax: (416) 585-4645
leased apartments above. The restaurant is currently owner-occupied and finished with slate flooring, granite table-tops and bar area also featuring a stage and rear patio.
www.marcusmillichap.com
The property is part of a larger plaza and next door to a Beer Store drawing in heavy foot traffic and maximum exposure along Eglinton Avenue East, and the intersection
EXPENSES
of Brimley Road and Danforth Road.
Real Estate Taxes
$24,000
$24,000
Insurance
4,000
4,000
The property is an excellent investment opportunity yielding
Utilities
4,800
4,800
high gross rents with minimal expenses with room for
Total Expenses
$32,800
$32,800
increases.
Expenses per SF % of EGI
$3.67
$3.67
18.3%
17.0%
With the restaurant being leased out the gross income would draw $148,860 NOI indicating a CAP rate of 6.77%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2014 Marcus & Millichap (Activity ID: V3010024 Property ID: 1972612)
M I X E D - U S E
O F F E R I N G
M ULTIFAMILY & R ETAIL 2693-2697 Eglinton Avenue East Scarborough, Ontario M1K 2S2
OFFERING SUMMARY
INVESTMENT HIGHLIGHTS
Price
Well Maintained
Down Payment
High-End Finishes
Total Rentable SF
Frontage on Eglinton Avenue East
Price Per SF
Exposure to High Traffic as Part of a Busy
Year Built
Plaza
$2,200,000 (100%) $2,200,000 8,930 $246.36 1957 / 2014
Cap Rate - Current
6.64%
Room for Rent Increases
Cap Rate - Pro Forma
7.29%
Great Existing Financing
Total Return – Current (Including Restaurant Lease)
6.64%
100% Occupied
Total Return - Pro Forma
7.29%
Listed by:
Ample Parking
EDDEN KATZAV Salesperson, Associate Tel: 416-585-4664 Fax: (416) 585-4645 License: 4776301 [email protected] www.marcusmillichap.com/EddenKatzav
Offices Nationwide
20 Queen St r eet W, Suit e 2300 T or o n t o , On t ar i o M 5H 3R 3 • T el : ( 416) 585- 4646 Fax: ( 416) 585- 4645
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2014 Marcus & Millichap (Activity ID: V3010024 Property ID: 1972612)
2693-2697 EG LINT ON AVENUE EAST • SC ARBOR OUG H, ONT ARIO M1K 2S2 OPERATING DATA Income
Current
Apartments - Gross Rent
$80,760
$90,600
Retail - Gross Rent
$98,100
$102,600
Combined Gross Potential Rent
$178,860
$193,200
Gross Potential Income
$178,860
$193,200
Effective Gross Income
$178,860
$193,200
Less: Combined Expenses
Pro Forma
$32,800
$32,800
$146,060
$160,400
Net Cash Flow After Debt Service
6.64% / $146,060
7.29% / $160,400
Total Return
6.64% / $146,060
7.29% / $160,400
Net Operating Income
INVESTMENT OVERVIEW A rare opportunity to purchase a regularly renovated premises including two retail spaces and a restaurant, with
20 Queen Street W Suite 2300 Toronto, Ontario M5H 3R3 Tel: (416) 585-4646 Fax: (416) 585-4645
leased apartments above. The restaurant is currently owner-occupied and finished with slate flooring, granite table-tops and bar area also featuring a stage and rear patio.
www.marcusmillichap.com
The property is part of a larger plaza and next door to a Beer Store drawing in heavy foot traffic and maximum exposure along Eglinton Avenue East, and the intersection
EXPENSES
of Brimley Road and Danforth Road.
Real Estate Taxes
$24,000
$24,000
Insurance
4,000
4,000
The property is an excellent investment opportunity yielding
Utilities
4,800
4,800
high gross rents with minimal expenses with room for
Total Expenses
$32,800
$32,800
increases.
Expenses per SF % of EGI
$3.67
$3.67
18.3%
17.0%
With the restaurant being leased out the gross income would draw $148,860 NOI indicating a CAP rate of 6.77%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2014 Marcus & Millichap (Activity ID: V3010024 Property ID: 1972612)
