Business For Sale · Office

Suite 9 216 Water Street, Summerside

Suite 9 216 Water Street, Summerside, PE C1N1B3

Price on request

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Asset Class

Office

Size

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Building class

C

Zoning

DC1 — Direct Control

$ / SF

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Occupancy

88%

Year Built

1990

About this property

Professional commercial space available for lease in Summerside, PEI. Suite 9 offers a spacious single-room layout with new flooring, a window providing natural light and exterior exposure, and two closets offering convenient storage. Doors may also be added to create more defined enclosed storage space. Heat and electricity are included in the monthly rent. Conveniently located near the building?s primary entrance, the suite provides good accessibility and visibility. Previously used as a clothing store, the flexible layout is suitable for a variety of potential professional, office, or service-based uses. Located within a professionally managed, secure commercial building, tenants benefit from 24/7 access and on-call maintenance. Parking options are also available. Minimum one-year lease required. Some photos have been virtually staged to illustrate the property's potential. Measurements are based on older floor plans and are approximate. Buyers are advised to verify all measurements. $1,100 per month HST included. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$74K

Annual cash flow

$-10K

Cash-on-cash

-2.11%

DSCR

0.89

Going-in cap

4.91%

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

43,136

Households

17,417

Median income

$125,000

Median age

34.4

Daytime population

37,201

5-yr growth

6.4%

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

Secure deal room

Confidential diligence documents for Suite 9 216 Water Street, Summerside.

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.