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$249,000 total
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Asset Class
Retail
Size
—
Building class
A
Zoning
CNC — Neighbourhood Commercial
$ / SF
—
Occupancy
95%
Lot Size
0.0989 ac
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)
Adjust the deal assumptions — returns recalculate instantly.
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.
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.
Confidential diligence documents for 195 Commercial Street, Glace Bay.
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.