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Business For Sale · Multifamily

18 WILLIAM STREET, Parry Sound

18 WILLIAM STREET, Parry Sound, ON P2A1V1

$724,900 total

1,835 SF

Asset Class

Multifamily

Size

1,835 SF

Building class

A

Zoning

RA9 — High Rise

$ / SF

$395

Occupancy

99%

Lot Size

0.2 ac

About this property

Exceptional investment opportunity. Prime commercial location in the heart of downtown Parry Sound located on a large lot. This beautifully fully restored century home blends timeless character w/modern updates while preserving its historic architecture, high ceilings, new flooring throughout, large bright windows, ceiling fans & freshly painted. A blank canvas to make your own, being fully vacant & move-in ready, a rare opportunity. Currently configured as two self-contained levels, this versatile commercial property offers endless possibilities such as live/work space, offices, retail, short- & long-term rentals. Ideal for entrepreneurs, small business owners, remote workspace while at the cottage, investors, or those seeking flexibility. With a lack of residential rentals, prime, exposure locations, downtown parking & visitor accommodations, this is a strong cottage country dream investment come true!Enjoy outstanding exposure in the commercial district w/signage opportunities, 3 separate entrances, 2 driveways, plenty of front & rear parking, a basement for storage, a rear platform deck, a concrete patio, mature trees & colourful gardens. New high-efficiency appliances add modern convenience while maintaining the home's unique charm.Leave the car behind & walk to the waterfront, beach, restaurants, boutique shops, schools, theatre, arts & cultural venues, tourist attractions, boat tours, plane rides, boat launches & everything vibrant downtown Parry Sound has to offer. Located in the renowned Georgian Bay region & the hometown of Bobby Orr, this property is perfectly positioned for attraction of many kinds.An outstanding opportunity for investors seeking strong income potential through short-term or long-term rentals or business owners looking for a highly visible location in one of Ontario's most desirable waterfront communities. Click on the media arrow below on the REALTOR.ca listing to view the video, floor plans, 3-D imaging & additional pictures. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$725K
Down payment30% · $217K
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$27K

Annual cash flow

$-13K

Cash-on-cash

-5.85%

DSCR

0.68

Going-in cap

3.79%

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
Aurora Legal LLP621 SF2028-10
Aurora Legal LLP407 SF2028-10
Aurora Legal LLP787 SF2028-10

Area demographics

Trade area within 3 miles of the property.

Population

110,521

Households

45,897

Median income

$99,500

Median age

32.6

Daytime population

176,759

5-yr growth

5.4%

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

Secure deal room

Confidential diligence documents for 18 WILLIAM STREET, Parry Sound.

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.