For Sale · Retail

1003 NORTH SHORE DRIVE, Gravenhurst (Muskoka (S))

1003 NORTH SHORE DRIVE, Gravenhurst (Muskoka (S)), ON P1P1R1

$735,000 total

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Asset Class

Retail

Size

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Building class

B

Zoning

CSC — Shopping Centre

$ / SF

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Occupancy

95%

About this property

Ideal Live/Work on this pretty 1.8 acre corner lot filled with mature coniferous and deciduous trees and rock outcroppings. This unique Commercially Zoned C-2A property offers the perfect combination of commercial space with allowing a residential dwelling on the same lot (dwelling allowed because a house exists so can either renovate or tear down and rebuild with a 3 year time line). This corner lot faces Bethune allowing for great commercial signage exposure. Only 2 minutes to HWY 11 for commuting. Present family dwelling is being sold as is where is ... house needs renovating - has 3 bedrooms, open concept kitchen living room with newer Napoleon gas fireplace(6 yrs) for heating the entire house, 4 pc bathroom, additional large room on upper level could be art studio or rec rm or 4th bedroom, sliding doors from living room lead to a back deck and lower patio area surrounded in perennials (a little TLC will bring back to former glory). The lower patio off the living room once housed a hot tub. The large master bedroom has french doors overlooking deck and side yard. There is a working dug well and septic for house. North Shore Dr is an access road for cottages on Gull Lake. Historically the OFSC D-Trail follows a section of this road. Some Commercial permitted uses are bed and breakfast, building supplies outlet, commercial entertainment, commercial parking facility, garden centre, funeral home, body shop, dealership, nursing home, religious institution, restaurant and more (see attachment for Commercial Permitted Uses C-2, C-2A from Town of Gravenhurst Zoning By-law Section 18: 18-1, 18-2, 18-3, 18-4, 18-5). Easy to show. Fast closing available. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$735K
Down payment30% · $221K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$45K

Annual cash flow

$4K

Cash-on-cash

1.97%

DSCR

1.11

Going-in cap

6.13%

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

91,243

Households

39,810

Median income

$79,000

Median age

40.5

Daytime population

139,340

5-yr growth

7%

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

Secure deal room

Confidential diligence documents for 1003 NORTH SHORE DRIVE, Gravenhurst (Muskoka (S)).

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.