For Sale · Land

23 MARKET STREET, Collingwood

23 MARKET STREET, Collingwood, ON L9Y3M5

$599,900 total

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Asset Class

Land

Size

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Building class

C

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

89%

About this property

A rare opportunity to acquire vacant commercial land in the heart of downtown Collingwood. Zoned C1 - Downtown Core Commercial, this property offers exceptional flexibility for investors, developers and business owners looking to create a distinctive project within Collingwood's vibrant downtown. The C1 zoning permits a broad range of uses, including retail, restaurants, professional and business offices, personal services, medical offices, galleries, hotels and other commercial opportunities. The zoning also provides potential for residential units within a non-residential building, subject to applicable zoning provisions and municipal approvals. Residential units are permitted above the first storey with separate access from the commercial portion, creating excellent potential for a mixed commercial/residential development. Of particular interest to developers, C1 zoning provides no minimum lot area or frontage requirements, no maximum lot coverage and permits a maximum building height of 12 metres. Ideally situated within walking distance of downtown shops, restaurants, cafés, professional services, the waterfront, harbour and trail system, the property offers an outstanding opportunity to establish a presence in one of Southern Georgian Bay's most desirable four-season communities. With municipal services available at the lot line, 23 Market Street presents a rare opportunity for retail, hospitality, professional space, mixed-use development or a strategic long-term investment in the continued evolution of downtown Collingwood. (id:66811)

Financial sandbox

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Estimate
Purchase price$600K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy89%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$25K

Annual cash flow

$-9K

Cash-on-cash

-4.83%

DSCR

0.74

Going-in cap

4.09%

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

118,158

Households

54,569

Median income

$66,000

Median age

40.3

Daytime population

127,926

5-yr growth

7.8%

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

Secure deal room

Confidential diligence documents for 23 MARKET STREET, Collingwood.

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.