| Message Number | 89270 |
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| status | Active |
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| Subject Line | Toronto, Hwy 404 & Steeles, 200 seat + 40 patio Family restaurant, 5822 Sf. Net Income approx. $ 250,000. Asking price : $ 549,000. Good opportunity for growth |
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| Business area | |
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| Location, City | Toronto |
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| Have/Want | Have |
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| Business category | Business Opportunities |
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| Date of Listing | October 13 2003 |
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| Type Description | Family Restaurant / Cafe-Bar, 200 seats + 40 seats patio, fully equipped, 5,822 Sf. |
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| Location | Hwy 404 & Steeles Ave. |
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| Price | $549,000.00 |
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| Price Comment | 40% return on investment |
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| Size | 5,822 Sf. |
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| Building Area Comment | easy access to Hwy 404, 401, 407 |
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| Zoning | Commercial - Industrial |
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| Gross Income | $ 1,000,000 +/- |
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| Expenses | $ 750,000 |
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| Net Income | $ 250,000+ |
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| Cap Rate | 40 % + |
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| Comments | Excellent Family Business, Very good potential for growth, the 5,822 sq.ft., restaurant is located on Major street in the middle of Hi-tech corporations and Industrial area. By introducing the breakfast and catering in the neighbourhood, the sales may increase by over 20%. The present lease is 5 years plus 3 X 5 years option at industrial rate. The present expenses are :
Food cost $ 290.000 / yr ( 29% incl. liquor )
Rent : $ 63,600 /yr incl. Maintenance, Prop. & Bus. Tax
Hydro : $ 15,600 /yr.
Water : $ 4,200 /yr
Gas : 7,200 /yr
Tel. : 1,300 /yr
Bus. Ins. 3,000 /yr
Laundry 1,200 /yr
Bank Charges $ 600 /yr
Accouting 2,500 /yr
Advertising 20,000 /yr
Wages 210,000 /yr
Owner's wage 50,000 /yr
Misc. 15,000 /yr
Total Expense...................... $ 687,000+Tax
Net income before debt ............ $ 250,000+
Purchaser must verify and satisfy himself/herself from the Income & Expense at his/her own cost.
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| Client Details | Fixer/Handy |
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| Client Situation | Off Management |
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| Clients Objective | Opportunity |
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| Motivation Rating | Take Part Equity |
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| Client Will | Take Back Mortgage |
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| Explain Client's Motivation | Wants to concentrate on his costruction company |
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| Broker's Recommendation | Excellent opportunity for family Business |
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| Control | Exclusive |
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| Name | Tony Habbaky |
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| Title | Broker |
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| Company Name | IPRO REALTY Ltd., Brokerage |
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| Address Line One | E101 1396 DON MILLS RD |
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| City | Toronto |
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| State/Province | Ontario |
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| Zip/Postal Code | M3B 3N1 |
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| Country | Canada |
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| Business Phone Number | (416)364-4776 |
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| Cell Number | 416 - 722 9500 |
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| Home Number | 416 - 722 9500 |
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| Email Address | Send Email |
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