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$399,900 total
—
Asset Class
Multifamily
Size
—
Building class
C
Zoning
RA8 — Medium Rise
$ / SF
—
Occupancy
83%
Year Built
2024
What an unique opportunity to own this stunning property that features a turnkey business, and rental potential!!! Or with a creative mind, it could also be converted into an impressive residential home. This 2 year old building is currently the home of Purely Radiant Salon, a bustling business near Clarenville in the town of Georges Brook-Milton. The building sits on a half acre lot with ample room for parking. The salon unit features a waiting area and reception, space for 3 work stations, washing station, laundry, bathroom, and a room that is currently being used for waxing. The second unit was set up as a store front off of the salon, but is currently vacant for you to lease to another business, or expand on the salon. The third unit is a studio apartment that is currently being used as a short-term rental. This offers an opportunity for steady income all year round with a strong tourist season in Spring, Summer, and Fall, and also capturing visitors in the Winter months who come to the area for winter sports like skiing and snowmobiling. But maybe you're looking at this place and thinking ""geez, this place could make a stunning home!"" And you're absolutely right....this place could easily be converted into a stunning home for residential use!!! Whether you're someone who enjoys making money, or someone wanting a very unique home, you need to check this place out. Call today to book a private viewing of this stunning property. *If HST is applicable, it will be the responsibility of the purchaser* (id:66811)
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Monthly debt service
$2K
Projected NOI
$12K
Annual cash flow
$-10K
Cash-on-cash
-8.66%
DSCR
0.53
Going-in cap
2.94%
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.
Trade area within 3 miles of the property.
Population
101,633
Households
47,826
Median income
$106,000
Median age
45.6
Daytime population
152,213
5-yr growth
4%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 34 Discovery Estates, Georges Brook-Milton.
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.