Business For Sale · Land

1211 & 1225 & 1237 PETIT ROAD, Fort Erie (Crescent Park)

1211 & 1225 & 1237 PETIT ROAD, Fort Erie (Crescent Park), ON L2A5A4

$7.8M 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

99%

Lot Size

9.36 ac

About this property

Exceptional Development Opportunity in Fort Erie. A rare opportunity to acquire a draft plan-approved residential development site for 98 homes in the growing community of Fort Erie. The approved plan features a diverse mix of housing, including 5 single-family lots, 74 street townhomes, and 18 semi-detached lots. Ideally situated adjacent to the highly successful High Pointe Meadows community, the property offers excellent connectivity and convenient access to the QEW and Canada-U.S. border, while being just minutes from some of the Niagara Region's renowned golf courses and beaches.The Petit Road location is also within walking distance of key community amenities, includingFort Erie Town Hall, the Fort Erie Leisure plex, YMCA Child Care Centre, and the newly constructed Greater Fort Erie Secondary School. With approvals in place, a desirable residential location, and proximity to established amenities and transportation routes, this property represents an outstanding opportunity for builders and developers looking to expand their presence in the Fort Erie market. (id:66811)

Financial sandbox

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Estimate
Purchase price$7.80M
Down payment30% · $2.34M
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$36K

Projected NOI

$359K

Annual cash flow

$-73K

Cash-on-cash

-3.14%

DSCR

0.83

Going-in cap

4.60%

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

126,074

Households

46,747

Median income

$106,000

Median age

33.4

Daytime population

202,417

5-yr growth

9.4%

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

Secure deal room

Confidential diligence documents for 1211 & 1225 & 1237 PETIT ROAD, Fort Erie (Crescent Park).

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.