$1,299,000
Available - For Sale
Listing ID: X14110610
39 King Street West , Cobourg, K9A 2M1, Northumberland
| $99,600 ANNUAL GROSS INCOME. APPROX. 6% CAP RATE. 4 INCOME STREAMS! An established, fully occupied mixed-use Commercial Residential FREEHOLD Brick Multi Unit in the heart of historic Downtown Cobourg. An attractive 4,390 sq. ft. brick building combining a prominent King Street retail storefront with 3 residential apartments, offering diversified income, immediate cash flow & manageable ownership. Approx. $78,719 annual Net Operating Income represents a 6.06% CAP RATE at the $1,299,000 asking price, based on supplied expenses, excluding vacancy, management & capital reserves. The commercial tenant pays $3,000/month base rent PLUS $700/month TMI, with a 3-year lease commencing March 2025. The bright 1,161 sq. ft. storefront offers excellent visibility, large display windows, high ceilings & flexible retail space, PLUS approx. 1,161 sq. ft. lower level with office, storage, laundry hookups, 2-pc bath & walkout access. Three residential apartments occupy the upper floors, with independent access & separate hydro meters. Current residential rents total $4,600/month, with month-to-month tenancies. Tenants pay their own electricity. Significant improvements include a 2016 membrane roof, 2016 residential furnace, 2018 hot water tank & 2024 fire retrofit. Two furnaces, separate hot water systems, multiple entrances & 3 rear parking spaces add functionality. Potential rear patio with plans available, subject to approvals. PRIME DOWNTOWN LOCATION steps to Victoria Hall, shops, restaurants, VIA Rail, Marina, Beach & Lake Ontario waterfront. Approx. 100 km east of Toronto. A STABILIZED INCOME PROPERTY OFFERING ESTABLISHED TENANCIES, DIVERSIFIED REVENUE & LONG-TERM OWNERSHIP VALUE IN A DESIRABLE WATERFRONT COMMUNITY. Call for Income & Expenses & floor plans. |
| 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 |
| 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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