Business For Sale · Land

PART OF LOTS 15-17 BROCK STREET, Perth

PART OF LOTS 15-17 BROCK STREET, Perth, ON K7H1Z1

$599,900 total

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Asset Class

Land

Size

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Building class

B

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

84%

About this property

NEW PRICE - $599,900! Outstanding opportunity to acquire a substantial residential development land assembly in the historic Town of Perth. The offering is anchored by an approximately 2.93-acre primary development parcel, together with several additional parcels of land included in the sale. Significant planning, architectural and engineering work has already been undertaken for multi-residential development of the site, including previous concepts accommodating up to 54 residential units. The existing concepts provide a valuable starting point while allowing a future purchaser to explore a unit mix and development plan suited to today's market, subject to municipal approvals. The primary development lands are zoned R4-24-h, with Site Plan approval and satisfaction of the Holding provisions remaining. Extensive environmental, engineering, traffic, geotechnical, noise, air quality, servicing and other technical studies have been completed, providing a significant head start in the development process. All severances have been completed, with additional lands beyond the primary development parcel included in the sale. Located near established residential neighbourhoods, the Tay River, parks and downtown Perth with its shops, restaurants and amenities. Municipal road access and servicing extensions will form part of the future development process. An excellent opportunity for a builder or developer to acquire a well-studied Eastern Ontario development site with substantial supporting documentation already in place. Full data room, surveys, plans and studies available upon request. (id:66811)

Financial sandbox

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Estimate
Purchase price$600K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$25K

Annual cash flow

$-9K

Cash-on-cash

-4.77%

DSCR

0.74

Going-in cap

4.11%

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

134,647

Households

48,370

Median income

$135,500

Median age

41.5

Daytime population

168,821

5-yr growth

7.9%

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

Secure deal room

Confidential diligence documents for PART OF LOTS 15-17 BROCK STREET, Perth.

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.