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Parksville Home Hardware 142 Morison

6,997 SF Retail Building Parksville, BC V9P 0B1 $3,100,000 CAD ($443 CAD/SF) 5.71% Cap Rate

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Executive Summary

This listing is for the sale of shares of 2 corporations. The first one being the Tower Brae Holdings Ltd. which operates as Parksville Home Hardware, Parksville, B.C. This is a well established Home Hardware franchise with a proven record of profits over many years. It is located in the heart of downtown Parksville with excellent traffic flow and is a destination business with many regular customers. Tower Brae Holdings Ltd. is offered for sale at $650,000 which includes $350,000 in inventory. The purchase price would be adjusted to reflect actual inventory at the takeover date. The second corporation is Ormiston Holdings Ltd, which owns the land and buildings, consisting of 142 Morison Ave with 6,997 sq ft of retail space, valued at $2.2M and a warehouse at Unit 7-1147 Franklin's Gull Rd in the Parksville Industrial Park with approx. 1300 sq ft of storage space, valued at $250,000 and reflects a combined cap rate of 5.71 %

Home Hardware 142 Morrison

Property Facts

Sale Type

Investment

Sale Condition

Business Value Included

Property Type

Retail

Property Subtype

Storefront

Building Size

6,997 SF

Building Class

Year Built

1952

Price

$3,100,000 CAD

Price Per SF

$443 CAD

Cap Rate

5.71%

NOI

$177,010 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

1.00

Lot Size

0.16 AC

Zoning

C-3

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