Commercial property 929 m² in Carbonear, Canada

Carbonear, Canada

$5,00M

$5,382/m²

Commercial property 929 m² in Carbonear, Canada

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ID: 1211789

Last update: 04/11/2022

Location

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Country

Canada
State

Newfoundland and Labrador
Region

Newfoundland
Town

Carbonear
Address

Water Street

Property characteristics

Property parameters

Price per m²

$5,382/m²
Total area

929 m²

Building parameters

The year of construction

1860
Number of floors

3

Investment params

Yield per year

500000%

Interior details

Heating:

Central heating

Cooling:

Air conditioner

Interior Features:

Furnitured
Household appliances
Basement

Exterior details

Parking features:

Parking

View:

Sea view

Location

City Center

Description

The entire property and business are being sold together. The “Stone Jug” property features 3 distinct floors, plus the addition of a full basement for a total of approximately 12,000 sq. ft. Each floor is approximately 3000 sq. ft. The 1st floor seats 85+ guests and has an 85 ft. bar and an open concept kitchen. The 2nd floor easily seats 200 guests. The 3rd floor theater and conference room seats 120 guests. *In 2020 the addition of a 2000 sq. ft. outdoor Austrian Beer Garden has been erected adjoining the Stone Jug property. Outdoor seating can accommodate 130 guests.

All of these facilities make the Stone Jug a perfect venue for weddings, meetings, conferences, functions, theater & musical performances. Whether it’s a private event, a night out with friends, a business dinner or just a casual evening in the pub, you can move from one floor to the next to a completely different venue. There are no other similar facilities in Canada, making this an instant positive ROI and cash flow for years to come. It's a booming busy spot!

The building is a historical structure built with 1-Meter-thick walls made out of hand-carved stone dating back to the early 18th century. It rivals other historical buildings found in New York, Paris or London. The building has undergone a total of $5,000,000 USD in restoration by the current owner recently sparing no costs. Clients are mesmerized by the beautiful gleaming hardwood floors & stairs, copper ceilings, glittering chandeliers and hand-crafted woodwork.

The property includes a 10,000 sq. ft. additional property currently used as a parking lot, which has the potential to be converted into a hotel or other facility.

The property is currently Licensed as a restaurant & Lounge, with liquor, wild game & fishing licenses with no restrictions. The entire operation and the physical property are included in the offer. This popular establishment is continually selected by the public, as a preferred venue for weddings, meetings, conferences, multi-level functions, theater & musical performances. “Stone Jug” has also been listed by the tourist industry, as a “must visit” 5 Star Attraction in Canada.

Stone Jug is extremely profitable since its opening in 2015. The profit level was 12% of sales in 2016, and 20-22% of sales in 2017/2018/2019/2020/2021.

If you need additional information, please send your inquiry.