For Sale · Retail

2412 QUEENSWAY DRIVE, Burlington (Freeman)

2412 QUEENSWAY DRIVE, Burlington (Freeman), ON L7R3T3

Price on request

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Asset Class

Retail

Size

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Building class

C

Zoning

CNC — Neighbourhood Commercial

$ / SF

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Occupancy

94%

About this property

Exceptional 4,380 sq. ft. restaurant opportunity in a prime Burlington location, anchored by the Best Western Plus with 78 guest rooms and a reported occupancy rate of approximately 75%. The restaurant premises have also undergone substantial renovations, including new plumbing, electrical, flooring, washrooms and a commercial exhaust hood. Designed for a pub or restaurant, the space is now ready for a tenant's finishing touches and branding. Ideal for a sports pub, golf simulator and restaurant concept, diner, all day breakfast restaurant, steakhouse or other hospitality use. Excellent landlord seeking a strong, long term tenant, with preference given to a quality pub style restaurant. A rare opportunity to customize a substantially improved restaurant space while benefiting from built in hotel clientele and excellent exposure. The hotel has been extensively upgraded room by room, including improvements to its indoor heated saltwater pool and guest amenities. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$81K

Annual cash flow

$-2K

Cash-on-cash

-0.40%

DSCR

0.98

Going-in cap

5.42%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

67,374

Households

28,300

Median income

$93,500

Median age

45.3

Daytime population

102,775

5-yr growth

3.8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 2412 QUEENSWAY DRIVE, Burlington (Freeman).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.