$1,299,000
Available - For Sale
Listing ID: X12641452
39 King Street West , Cobourg, K9A 2M1, Northumberland
| 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. |
| Price | $1,299,000 |
| Minimum Rental Term: | 36 |
| Taxes: | $8916.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 39 King Street West , Cobourg, K9A 2M1, Northumberland |
| Postal Code: | K9A 2M1 |
| Province/State: | Northumberland |
| Directions/Cross Streets: | Second Street/King St W |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 0 | |
| Washroom Type 17 | 0 | |
| Washroom Type 18 | 0 | |
| Washroom Type 19 | 0 | |
| Washroom Type 20 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 4390.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 2054 |
| Office/Appartment Area Code: | Sq Ft |
| Retail Area Code: | Sq Ft |
| Approximatly Age: | 100+ |
| Sprinklers: | No |
| Washrooms: | 5 |
| Crane: | F |
| Clear Height Feet: | 6 |
| Truck Level Shipping Doors #: | 1 |
| Grade Level Shipping Doors #: | 1 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
| Sewers: | Sanitary+Storm |
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| Century 21 United Realty Inc. |
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At a Glance:
| Type: | Com - Investment |
| Area: | Northumberland |
| Municipality: | Cobourg |
| Neighbourhood: | Cobourg |
| Approximate Age: | 100+ |
| Tax: | $8,916 |
| Baths: | 5 |
| Fireplace: | N |
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