$399,888 - 41 Rymal Road, Hamilton
Commercial for Sale in Hamilton
New — Listed 3 days agoNeighbourhood: Kennedy
- MLS Number
- X13522044
- Property Type
- Commercial
- Status
- active
- Days on Site
- 3
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 2,609 sqft
- Neighbourhood
- Hamilton
- Listing Brokerage
- RE/MAX GOLD REALTY INC.
Turnkey 6-bay self-serve coin-operated car wash in Hamilton's mountain residential corridor - business and equipment sale only. Real estate is not included and is separately listed at $1,599,888. All major equipment was installed new in 2024 by NCS Mondo Products Co. Ltd., one of Canada's premier car wash suppliers. This is not a tired operation needing capital - the bays, plumbing, chemical delivery systems, electrical, LED lighting, payment terminals, and full surveillance system are brand new and under manufacturer warranty. The Tap+Wash cashless platform is active across all 6 bays, accepting credit, debit, contactless, and coin. A monthly membership/subscription feature is installed and ready to activate - zero additional hardware cost. Membership revenue represents pure upside for the incoming operator. Included: 3 premium JE Adams Ultra-Series vacuum stations (new 2024, carpet shampoo, 3-motor turbo, digital timer) plus 3 additional legacy vacuum units at rear. 21- camera HD surveillance system with 32-ch NVR and 20 TB of storage also included. 2025 revenue of $62,468 (CPA compiled) was achieved under part-time, first-time ownership navigating health challenges. Card settlements of $36,366 independently verified through Monex payment processor records. Business has never been operated at capacity - a focused owner operator has a clear path to significantly higher throughput without any additional capital outlay. Total project investment since 2023 exceeded $473,000 pre-HST. At the asking price is below replacement cost for the direct business assets alone. Flexible transaction structure: asset sale or clean share transfer with all liabilities cleared prior to closing.
Estimate your monthly payments for this property
Estimated Payment
$2,051.63/mo
Includes CMHC insurance ($11,157)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Kennedy
Kennedy is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Kennedy
- •Convenient location in Hamilton
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Kennedy offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
41 Rymal Road, Hamilton
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Key factors for evaluating this commercial property
Commercial Due Diligence Checklist
· Verify zoning and all permitted uses
· Review all existing leases (terms, renewals, net vs. gross)
· Request estoppel certificates from all tenants
· Order a Phase 1 Environmental Site Assessment
· Commission a property condition assessment
· Review operating costs (taxes, insurance, maintenance)
Commercial Financing Note
Commercial mortgages require 20–35% down, shorter amortization, and lenders underwrite based on the property's income. CMHC insurance is not available for commercial. Connect with a commercial mortgage broker early.
Commercial and land transactions are significantly more complex than residential. Joe recommends assembling a team — commercial real estate lawyer, accountant, and (for land) a land use planner — before making an offer.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Commercial Pricing Context
At $153/sqft, this is priced on the lower end for commercial, which warrants investigating condition, zoning restrictions, and tenancy. Commercial values are highly location- and zoning-dependent, so comparable sales analysis is essential. I'll pull recent commercial comps for you.
Just Listed — Take Your Time
This property just hit the market. Commercial due diligence is thorough and takes time — environmental assessments, lease review, financial statement analysis, and zoning confirmation. Unlike residential, there's rarely a multiple-offer frenzy. Act with focus, not urgency.
Zoning & Permitted Use — Verify First
I always confirm the zoning and permitted uses before a client gets too far into a commercial transaction. What a property is currently used for and what it's legally permitted for are sometimes different. If you plan to change the use, a zoning amendment or minor variance may be required — that's additional cost, time, and risk.
Tenancy & Income Review
If this property has existing tenants, I'd want to review all leases carefully: term lengths, renewal options, rent amounts, escalation clauses, and who's responsible for operating costs (gross lease vs. net lease). A strong long-term tenant is an asset; a lease expiring at closing is a different story. We'll request estoppel certificates from all tenants.
Environmental & Due Diligence
A Phase 1 Environmental Site Assessment is standard practice for commercial purchases in Ontario. If historical industrial use is flagged, you'll need a Phase 2. I also recommend a property condition assessment covering structure, roof, HVAC, and electrical — commercial systems are expensive to replace and often not disclosed in detail on the listing.
Commercial Financing Realities
Commercial mortgages work differently than residential. Expect 20–35% down, shorter amortization (15–25 years), and lenders who underwrite based on the property's income, not just your personal financials. CMHC insurance is generally not available for commercial, and rates are typically higher. I can connect you with commercial mortgage brokers who specialize in Hamilton transactions.