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Michelle Cooper

homesbycooper@gmail.com +1(905) 577-2173

Est. payment - /mo

5 Baths

4,390 SqFt

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Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 4,390 sqft

Subdivision Cobourg

MLS Listing ID X12641452

Annual Tax Amount $8,916

Tax Year 2025

Property Sub-Type Investment

Property Description

FULLY OCCUPIED DOWNTOWN COBOURG INVESTMENT generating $93,600 in annual gross income. This well-maintained 4,390 sq. ft. mixed-use freehold combines a prominent King Street retail storefront with three residential apartments, offering diversified income from four tenancies. Approximate NOI of $71,974 based on supplied operating expenses represents an approximate 5.54% cap rate at the asking price.The main-floor commercial tenant occupies approximately 1,161 sq. ft. plus a similarly sized lower level and is in the second year of a three-year lease commencing March 1, 2025. The bright storefront features large display windows, high ceilings, flexible retail space and roughed-in plumbing for salon or esthetic uses. The walkout lower level provides an office, storage, laundry hookups and a 2-piece bath.Three separately metered apartments occupy approximately 2,054 sq. ft. across the upper floors and have a private entrance independent of the commercial premises. Two residential leases extend to January 31, 2028, while the third tenancy is month-to-month. Tenants pay their own hydro.Investor-friendly improvements include a newer membrane roof and residential furnace, 2024 fire retrofit and separate furnaces. Four entrances, three rear parking spaces and walkout access support convenient tenant operations. Potential also exists for a rear patio or future expansion, subject to approvals. Located in Cobourg's historic downtown near Victoria Hall, shopping, dining, VIA Rail, the marina and Lake Ontario. A stabilized, easily managed asset combining immediate income, established tenancy and long-term downtown value. Turnkey Income. Cap Rate: 5.5% approx. at full list price. A rare chance to acquire a hands-off, stabilized asset in a destination market with strong fundamentals, consistent rental demand, and upside through future growth-all within a manageable drive or train ride from Toronto.

Location

Province ON

County Northumberland

Area Northumberland

Zoning MC

Interior

Cooling Yes

Inclusions Central A/C, Forced Air Gas Furnace. Hot Water Tank. Newer membrane roof on building, Furnace, Fire Retrofit 2024. 3 Parking Spots. Potential for patio. Salon washing stations Roughed-In (capped over). Brick building w/ character in great condition. Income & Expenses & Upgrades list available. Tenant leases for review with accepted offer.

Exterior

Utilities Available Yes

Lot Frontage 22.26

Lot Depth 115.6

Building

Building Age 100+

Others

Security Features No

ParcelsYN No

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Listed by Century 21 United Realty Inc.

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Michelle Cooper

+1(905) 577-2173

Agent

39 King ST W Cobourg, ON K9A 2M1

Michelle Cooper

Key Details

Location

Interior

Exterior

Building

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