178 James ST N Active Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8R 2L1
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 5,522 sqft
Price per Sqft $615
MLS Listing ID X9509499
Annual Tax Amount $15,730
Tax Year 2024
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 six one-bedroom 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
Community Public Transit
Area Beasley
Interior
Cooling Yes
Exterior
Community Features Public Transit
Utilities Available Yes
Parking Type None
Others
Security Features No