Business For Sale · Office

150 MAIN STREET, Erin

150 MAIN STREET, Erin, ON N0B1T0

$649,000 total

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Asset Class

Office

Size

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Building class

A

Zoning

CB2 — Central Business

$ / SF

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Occupancy

84%

About this property

In the Downtown Core of the growing Village of Erin, this vacant, well-maintained commercial property is an excellent opportunity for a savvy entrepreneur, business owner or investor. The flexible layout suits a range of client-facing and service-based businesses. Large windows fill the space with natural light, creating a bright, welcoming setting for clients and staff. Three private offices offer room for consultations, focused work and daily operations. Independent practitioners can meet with clients privately while managing their business on site. The adaptable kitchenette / lunchroom area includes numerous lockable cupboards, offering useful storage and flexibility for business operations. Wheelchair ramp access supports easier entry for clients, customers and staff. A rear door opens to the large, private fenced yard, which is also accessible through a side gate. The outdoor space may benefit a daycare or another business that uses outdoor programming or services. Potential uses include a medical clinic, cosmetic or aesthetic services, counselling or therapy practice, financial or accounting services, architectural or other professional offices, personal services, retail, studios, specialty services, daycare or cannabis retail. Additional uses may be permitted under Commercial Core (C1) zoning. Municipal sewer is being constructed now. This very attractive and updated building is ideal for launching a new venture, relocating an established practice or seeking a commercial property for an investment portfolio. The adaptable floor plan offers useful features for business operations and client services. All uses require applicable licensing and Town approvals. The property has many updates, including the stylish flooring, windows, roof and forced-air furnace. Buyer to verify suitability for their intended use and confirm any required approvals. Existing Survey on file. (id:66811)

Financial sandbox

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Estimate
Purchase price$649K
Down payment30% · $195K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$30K

Annual cash flow

$-6K

Cash-on-cash

-3.28%

DSCR

0.82

Going-in cap

4.56%

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

103,649

Households

37,726

Median income

$100,000

Median age

32.6

Daytime population

116,278

5-yr growth

6.6%

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

Secure deal room

Confidential diligence documents for 150 MAIN STREET, Erin.

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.