Business For Sale · Multifamily

34 Discovery Estates, Georges Brook-Milton

34 Discovery Estates, Georges Brook-Milton, Newfoundland & Labrador A5A0J3

$399,900 total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

83%

Year Built

2024

About this property

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)

Financial sandbox

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Estimate
Purchase price$400K
Down payment30% · $120K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

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.

Area demographics

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.

Secure deal room

Confidential diligence documents for 34 Discovery Estates, Georges Brook-Milton.

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.