FOR SALE πŸ’‘Inventor Thomas Edison's Former Residence - 46/48 Ontario St., Stratford, Ont.

48 Ontario St, Stratford, ON

Scroll to see the current use of the building and what it could becomeΒ β†’

Edison’s – 48 Ontario St., Stratford ON.

Thomas Edison Story:Β As a 16 year old in 1863, Thomas Edison lived in Stratford, Ontario. He came to Stratford to take his first job as a telegrapher. He was rumoured to have invented the mousetrap while living at 46/48 Ontario Street.Β Haven’t seen a mouse since.Β It was not his only invention in Stratford. He concocted a system to alert him when a train was on the track so that he could focus on other inventions while doing his job. Unfortunately, on one occasion the invention did not work and two trains were headed towards one another. Luckily, there was no disaster, however, it ended Thomas’s job in Canada.

Thomas Edison Story:Β As a 16 year old in 1863, Thomas Edison lived in Stratford, Ontario. He came to Stratford to take his first job as a telegrapher. He was rumoured to have invented the mousetrap while living at 46/48 Ontario Street.Β Haven’t seen a mouse since.Β It was not his only invention in Stratford. He concocted a system to alert him when a train was on the track so that he could focus on other inventions while doing his job. Unfortunately, on one occasion the invention did not work and two trains were headed towards one another. Luckily, there was no disaster, however, it ended Thomas’s job in Canada.

What it is now

CURRENT Building use. In 2017, the Edison building was refurbished into a cafe bar on the main floor, and three hotel rooms, two on the second floor and one behind the cafe on the main floor. Edison’s Inn has been very successful. The renovations were featured in the July 1st issue of the Toronto Star. Edison’s Cafe Bar is operated on the 1st floor by a husband and wife team, well recognized for their scrumptious food, not to mention their superb coffee. Kandy Cakes, located in the York Street space, lovingly bakes delicious creations for celebrations. Both businesses are on month to month leases and would prefer to stay, if possible.

What it is now:

CURRENT Building use. In 2017, the Edison building was refurbished into a cafe bar on the main floor, and three hotel rooms, two on the second floor and one behind the cafe on the main floor. Edison’s Inn has been very successful. The renovations were featured in the July 1st issue of the Toronto Star. Edison’s Cafe Bar is operated on the 1st floor by a husband and wife team, well recognized for their scrumptious food, not to mention their superb coffee. Kandy Cakes, located in the York Street space, lovingly bakes delicious creations for celebrations. Both businesses are on month to month leases and would prefer to stay, if possible.

What could it be?

POSSIBLE Building Use.Β The building could continue to operate as a cash generator without much involvement by an owner. A cleaner and concierge currently take care of the hotel rooms so there is little that an owner would need to do other than collect money. An option would be to expand on the concept by CONVERTING the top floor into a residential unit for the owners to live, EXPANDING the cafe bar to the full main floor, offering an awesome view of the river and TRANSFORMING the York Street space into a burgers and fries joint that would naturally fit with the very popular ice cream store next door.

What could it be?

POSSIBLE Building Use.Β The building could continue to operate as a cash generator without much involvement by an owner. A cleaner and concierge currently take care of the hotel rooms so there is little that an owner would need to do other than collect money. An option would be to expand on the concept by CONVERTING the top floor into a residential unit for the owners to live, EXPANDING the cafe bar to the full main floor, offering an awesome view of the river and TRANSFORMING the York Street space into a burgers and fries joint that would naturally fit with the very popular ice cream store next door.

Property Details

Edison’s, 46/48 Ontario St., Stratford, Ont.

Location: 
Smack dab in the middle of downtown Stratford. On Stratford’s main street, Ontario Street. Backs onto park system and river.
 
Renovations:
Fully renovated 2016/2017.
 
Square footage: 
Approximately 2,700 square ft.
 
Floors: three. 
York – Kandy Cakes + furnace room + storage.
Main – Edison’s Cafe Bar + hotel room.
2nd – two hotel rooms + laundry room.
 
HVAC: 
Ductless split air conditioners in each hotel room (2018).
Force air furnace for cafe bar and bakery.
Radiant heating for hotel rooms (2018).
 
Roof: 

New flat roof – 2017.

Commercial leases:

Edison’s Cafe Bar – monthly.
Kandy Cakes – monthly.
Financials:
2017 (cafe bar + hotel) – $350k in revenues, $100k in net profit.
2022 (cafe bar leased to out) – $175k, $85k in net profit.
Property taxes – $11k.
Insurance – $4k.
Natural gas – average $135 monthly.
Hydro – average $700 monthly.
Utilities split between three businesses.
Β 
Parking:
Three leases spaces from City of Stratford
Β 
Opportunities:
Lease increase (no increase over last five years).
Residential on 2nd floor.
Expand cafe bar to full main floor.
Β 
Availability:
December 31st, 2023 or earlier.
Β 
Price:
$1,500,000.