31 Malta Street
St. John's, NL, A1C4T1
$379,900
About the property (MLS: 1275067):
A bustling centre city location with fantastic exposure to the high traffic volumes of Empire Avenue, 31 Malta is the perfect setting for a budding restauranteur to take their business to the next level. Paved parking for 4+ vehicles provides ground level entrance to a space that is currently run as an ethic cuisine takeout location, combined with African inspired grocery shop. Included with the sale, the property features a fully equipped commercial kitchen outfitted with 3-bay commercial sink, upright fridge, upright freezer four open-burner stove, 36 inch griddle, two oven range, extensive commercial cooking utensils, two fryers, deli meat slicer, complimented by cash register, grocery shelving, cooling display, and a walk-in cooler. Ensuring this property is a strong investment, the upper level of the property is a registered, three bedroom residential apartment with separate electrical meter that has been renovated extensively, shows extremely well, is currently rented for $1300/mo POU and is close to MUN offering predictable rental value. (id:56688)
Property Details
Listing ID: 27187856
Address: 31 Malta Street, St. John's, Newfoundland & Labrador, Canada A1C4T1
Status: Active
Last updated: a month ago ( Jul 26, 2024 )
Property Type: Retail
Structure Type: Retail
Ownership Type: Freehold
Number of stories: 2
Number of Levels: 2
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Living Area Total: 2,000 square feet
Price per sq ft: $190
Tax Annual Amount: $5,084
Tax Year: 2023
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Common Interest: Freehold
Business Type: Food Services and Beverage, Restaurant
Building Features: Living Accommodation
Number of photos available: 19
Rurl
Coordinates: [47.567153, -52.726971]
Rooms
Basic Calculator
First Mortgage: $303,920
Mortgage insurance premium: $0
Total Financing: $303,920
Rough closing fee (1.5%): ~ $5,699
Total downpayment with estimated closing fee: $81,679
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,200 | $26,400 |
| Gross rental income (income/principal ratio) | 0.579% | 6.949% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $475 | $5,700 |
| Vacancy | $110 | $1,320 |
| Management Fee | $176 | $2,112 |
| Expense / Income Ratio | 21.59% | 21.59% |
| Cash Flow | $1,439 | $17,268 |
| Net Operating Income (NOI) | $1,439 | $17,268 |
| Capitalization Rate | 0.38% | 4.55% |
