Business For Sale · Retail

195 Commercial Street, Glace Bay

195 Commercial Street, Glace Bay, NS B1A3B9

$249,000 total

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Asset Class

Retail

Size

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Building class

A

Zoning

CNC — Neighbourhood Commercial

$ / SF

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Occupancy

95%

Lot Size

0.0989 ac

About this property

Are you a dreamer or a doer? Opportunity is waiting for the right person or group to take the reins and bring this space back to life. In recent years several entrepreneurs and community groups have been working to reoccupy and revitalize the downtown core. This space could compliment existing businesses and can lend itself to being almost anything that you can imagine; whether it be a shared workspace hub, coffee shop/cafe or maybe a music venue? For those from Glace Bay, they would remember it when it was a clothing store and most recently a popular restaurant prior to covid -what will it be next or maybe it will return to its roots of clothing?? Entering at the front from Commercial Street, the main floor is wheelchair accessible with an open floor plan, kitchen space at back and there are two main floor bathrooms. The cabinetry, counters, tables and chairs will remain to give the new owner(s) a head start. Upstairs is largely a blank canvas and houses the office, a bathroom and was used mainly for storage. There are heat pumps on the main floor and second floor; there is also an oil furnace but it hasn't been used in recent years. So many options to consider; take the leap and book a walk thru with an agent. To note: the Seller is also open to leasing/rental discussions. (id:66811)

Financial sandbox

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Estimate
Purchase price$249K
Down payment30% · $75K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$13K

Annual cash flow

$-524

Cash-on-cash

-0.70%

DSCR

0.96

Going-in cap

5.33%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

74,127

Households

25,638

Median income

$91,500

Median age

45.7

Daytime population

106,936

5-yr growth

8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 195 Commercial Street, Glace Bay.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.