178 JAMES St N
Hamilton, L8R2L1
For Sale
$3,399,000
➧
➧
With Property
CATEGORY5,522 Sq Ft
TOTAL AREAX10404406
MLSIDContact Us
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!
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Property Details
Category
With Property
Zoning
H - Community Shopping and Commercial
Total Area
5,522 Sq Ft
Lot Size
37' x 153'
Taxes
$15,730 (2024)
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Listing contracted with Sotheby's International Realty Canada, Brokerage
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