1241 Sutherland Dr, Cowichan Bay1241 Sutherland Dr, Cowichan Bay — photo 2
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Business For Sale · Specialty

1241 Sutherland Dr, Cowichan Bay

1241 Sutherland Dr, Cowichan Bay, BC V0R1N2

$2.5M total

2,600 SF

Asset Class

Specialty

Size

2,600 SF

Building class

B

Zoning

DC2 — Site Specific

$ / SF

$964

Occupancy

83%

Lot Size

1.17 ac

About this property

Endless potential with this rare mixed-use waterfront opportunity at Paradise Marina. Nearly 1.5 acres (combined with 4635 Lanes Rd) of low-bank waterfront with stabilized net income of approx. $340,000. Potential gross income is approx. $590,000, with operations trending toward stabilization. Vendor take back financing available. OCP outlines future mixed-use supporting commercial units. Potential to add up to 17 cabins for recreational hoteling or retreat use, with accessory options like cafes, restaurants, or retail. Includes 2 rebuilt Superhost-rated cabins, redesigned marina with 84 slips, 2,800 linear ft of dock, launch ramp, and $2.5M in upgrades. Docks recently added, dragged, retightened with new anchoring, electrical, and metered slips. Marina is in demand with simple, efficient operations. 23 years remain on assignable and transferable foreshore lease. Ownership open to assisting new management with training. Must be sold with 4635 Lanes Rd. Buyer package available with signed NDA. Buyer to confirm all details. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.51M
Down payment30% · $752K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

Monthly debt service

$12K

Projected NOI

$135K

Annual cash flow

$-4K

Cash-on-cash

-0.53%

DSCR

0.97

Going-in cap

5.38%

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.

Rent roll (estimated)

TenantAreaExpiry
Meridian Health Group1,076 SF2027-06
Meridian Health Group540 SF2027-06
Meridian Health Group400 SF2027-06
Meridian Health Group400 SF2027-06

Area demographics

Trade area within 3 miles of the property.

Population

50,244

Households

20,626

Median income

$134,500

Median age

37.5

Daytime population

56,994

5-yr growth

7.9%

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

Secure deal room

Confidential diligence documents for 1241 Sutherland Dr, Cowichan 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.