Homula Realty Brokerage
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1548 St. Clair Parkway, St. Clair, ON N0N 1H0

Sale Of Business
$149,900

WATERFRONT RESTAURANT BUSINESS FOR SALE! CALLING ALL INVESTORS & ENTREPRENEURS!! EXCELLENT OPPORTUNITY TO ACQUIRE A WELL ESTABLISHED THRIVING RIVERVIEW RESTAURANT IN A HIGH EXPOSURE LOCATION OVERLOOKING THE SCENIC ST. CLAIR RIVER IN COURTRIGHT, ONT. KNOWN AS THE "ST. CLAIR RIVERVIEW RESTAURANT". THIS FULLY EQUIPPED, TURN KEY BUSINESS FEATURES A COMMERCIAL KITCHEN, DINING & BAR AREA INDOOR SEATING CAPACITY FOR: 60, FRONT OUTDOOR PATIO SEATING: 30 & BACK PATIO SEATING FOR: 30. THE SPACIOUS ON SITE BACK PARKING LOT ACCOMMODATES UP TO: 40 CARS. THE RESTAURANT ENJOYS A LOYAL CUSTOMER BASE AND STRONG LOCAL PRESENCE, A TOWN FAVOURITE LANDMARK KNOWN FOR THEIR DELICIOUS HOMEMADE MEALS & COLD BEVERAGES FOR ALL TO ENJOY IN A RELAXING ATMOSPHERE WHERE LOCAL MUSICIANS PLAY ON THE WEEKENDS. PERFECT FOR EXPERIENCED OPERATORS, CHEFS OR ENTREPRENEURS LOOKING TO STEP INTO YOUR OWN HOSPITALITY INDUSTRY. WITH A STRONG RETURN ON INVESTMENT ALREADY MAKE OWNING THIS RESTAURANT AN IDEAL INVESTMENT. NEW RESTAURANT BUSINESS OWNER WILL RENT FROM CURRENT BUILDING OWNER. WHETHER MAINTAINING THE CURRENT CONCEPT OR LAUNCHING SOME NEW CULINARY VISION, THIS RIVERFRONT RESTAURANT OFFERS EXCELLENT POTENTIAL TO TAKE OVER FOR LONG TERM SUCCESS!

MLS number
X13668290
Type
Sale Of Business
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
N0N 1H0
Photos
40
30days · this listing
30days · this property

This property has not been relisted in the last two years, so both counts are the same. Where they differ, the second adds up earlier listings at this address that ended without a sale.

Listing history

No previous listings found for this address.

Where this home is

Where this address sits, matched against open government data.

Matched to a published address point for this address.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 622 people.

$104,000Median household income
90.9%Own their home
94.6%Detached houses
55.2Median age
2.5%Born outside Canada
17.1%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35380339 — the few blocks around this address, home to 622 people. It describes the area, not this property.

622Population
48.6Average age
2.2Household size
$146,000Average household income
$104,000Median household income
91%Own their home
9%Rent
4%Condominiums
3%Born outside Canada
17%University degree
$628,000Average home value
6%Low income
94%Not in the labour force
18%Never married
$5,000 to $9,9991%
$20,000 to $24,9992%
$25,000 to $29,9992%
$30,000 to $34,9991%
$35,000 to $39,9991%
$40,000 to $44,9992%
$45,000 to $49,9991%
$50,000 to $59,9995%
$60,000 to $69,9995%
$70,000 to $79,9992%
$80,000 to $89,9995%
$90,000 to $99,9995%
$100,000 and over33%
$100,000 to $124,9997%
$125,000 to $149,9996%
$150,000 to $199,9998%
$200,000 and over14%

Percentages are of the 435 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$29,980 · minimum here is $7,495
$663.72per month
Borrowed before insurance$119,920
Total borrowed$119,920
Interest over 25 years at 4.5%$79,197

If you rented it out

Monthly rent starts from a rule of thumb — two per cent of the asking price a year — because no comparable lease was found nearby. Change it to anything you like.

-$413.72per month out of pocket
Rent$250.00
Everything it costs to hold$663.72
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by RE/MAX METROPOLIS REALTY. Listing data provided by the Toronto Regional Real Estate Board.