Business For Sale · Land

550 KING STREET E, Cobourg

550 KING STREET E, Cobourg, ON K9A0S4

$4.3M total

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Asset Class

Land

Size

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Building class

C

Zoning

AG — Agricultural

$ / SF

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Occupancy

98%

Lot Size

4.11 ac

About this property

A marquee development opportunity in Cobourg at 550 King Street East -- a landmark location offering 4 acres of potential and endless possibilities. Introducing a rare opportunity to acquire one of Cobourg's most prominent east-end properties. Strategically positioned with approximately 400 feet of frontage on the sunny side of King Street East, #550 is a true gateway property, capturing attention as you enter town. With its high-profile location, substantial landholding and development zoning, this exceptional 4 acre parcel presents an exciting opportunity for visionary builders, savvy investors and developers looking to secure a significant presence in a growing community. Offering municipal water, sewer, natural gas and featuring two entrances directly off King Street East, this property provides a compelling foundation for future development. Surrounded by new and established residential neighbourhoods along with new build commercial amenities, the location places future possibilities within a community experiencing continued growth and transformation. Opportunities of this scale and visibility are rarely available in such a strategic location. Whether you are an established developer expanding your portfolio or a builder seeking your next significant project, 550 King Street East offers the chance to envision what comes next in one of Cobourg's most recognizable locations. Property is being offered primarily for its land value and future development potential. The existing dwelling and outbuildings are not available for showings. (id:66811)

Financial sandbox

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Estimate
Purchase price$4.25M
Down payment30% · $1.27M
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$20K

Projected NOI

$224K

Annual cash flow

$-11K

Cash-on-cash

-0.87%

DSCR

0.95

Going-in cap

5.28%

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

99,795

Households

44,494

Median income

$129,500

Median age

38.7

Daytime population

146,511

5-yr growth

4.5%

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

Secure deal room

Confidential diligence documents for 550 KING STREET E, Cobourg.

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.