Business For Sale · Retail

367 RIDGE ROAD N, Fort Erie (Ridgeway)

367 RIDGE ROAD N, Fort Erie (Ridgeway), ON L0S1N0

$199,000 total

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Asset Class

Retail

Size

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Building class

A

Zoning

CNC — Neighbourhood Commercial

$ / SF

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Occupancy

97%

About this property

An exceptional opportunity to own and run THE ONLY INDIAN RESTAURANT IN FORT ERIE. Located in a quaint village of Rideway (Fort Erie), this restaurant has everything an aspiring business owner would look for. ***Turn-key business opportunity with loyal customer base ***Renovated cozy interiors and a 300 SF beautiful outdoor covered patio with a bar. There is an additional 300 SF non-covered patio on the restaurant side. ***Well-equipped kitchen that has 8 Ft. commerical hood fan and suppression system, and all trade equipment included in the sale - that gets you into business right away. Additional shed (included) built on the back side for strorage. *** 40-seating capacity (indoor) plus additional 20 seating capacity at outdoor patio, with LLBO permit upto the patio. Current monthly GROSS RENT is $2088.89 + HST (no additional TMI).***Seller is offering to sell entire incorporation with all its assests and liabilities, business name and licenses, social media and customer base - all inclusive deal! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$199K
Down payment30% · $60K
Interest rate6.25%
Amortization25 years
Occupancy97%
Expense growth2.5%

Monthly debt service

$919

Projected NOI

$11K

Annual cash flow

$-312

Cash-on-cash

-0.52%

DSCR

0.97

Going-in cap

5.38%

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

73,153

Households

26,469

Median income

$114,000

Median age

33.5

Daytime population

66,261

5-yr growth

4.1%

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

Secure deal room

Confidential diligence documents for 367 RIDGE ROAD N, Fort Erie (Ridgeway).

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.