178 James Street N Active Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8R 2L1
Key Details
Property Type Commercial
Sub Type Mixed,Building and Land
Listing Status Active
Purchase Type For Sale
Square Footage 5,522 sqft
Price per Sqft $615
MLS Listing ID 40653231
Abv Grd Liv Area 5,522
Originating Board Oakville
Annual Tax Amount $15,730
Lot Size 5,793 Sqft
Acres 0.133
Property Description
A true landmark, this stunning mixed-use property offers a fabulous investment with both strong appreciation and cashflow upside. Home to the iconic, well-established Rapscallion Restaurant on the main and basement levels, this building also includes five apartments on the upper floors. The main floor restaurant unit is truly a showpiece; fully renovated into a luxurious fine dining establishment only four years ago. Lavishly finished with fine materials and truly beautiful design, the sprawling restaurant is licensed for 140 guests indoors and offers a huge, partially-covered 30-seat patio behind the building. In addition to the substantial renovations done to the main and lower levels, two of the apartments have been renovated, and additional work has been done two other units. Despite the residential rents being well below market, this exceptional building is being offered at a 5.5% cap rate. Located in the heart of the thriving James North arts and dining district, this building is surrounded by cafes, shops, and thousands of residential units under construction! It is also only a short walk to the financial core, the West Harbour GO station, and the $280 million arena project. It doesn't get better than this: location, cashflow, stability, and upside!
Location
Province ON
County Hamilton
Area 14 - Hamilton Centre
Zoning H - Community Shopping and Commercial
Direction Located on the east side of James St N just north of Cannon St E
Rooms
Basement Partial
Kitchen 0
Interior
Fireplace No
Exterior
Lot Frontage 37.42
Lot Depth 152.65
Garage No
Building
Lot Description Business Centre,City Lot,High Traffic Area,Public Transit,Visual Exposure
Faces Located on the east side of James St N just north of Cannon St E
Story 3
Sewer Sewer (Municipal)
Water Municipal
New Construction No
Others
Senior Community No
Tax ID 171610022
Ownership Freehold/None