For Sale · Retail

102 - 108 SECOND STREET E, Cornwall

102 - 108 SECOND STREET E, Cornwall, ON K6H3H1

$388,500 total

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Asset Class

Retail

Size

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Building class

A

Zoning

CNC — Neighbourhood Commercial

$ / SF

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Occupancy

87%

About this property

Bring your business to the heart of downtown Cornwall. Unit #102 at 108 Second Street East offers approximately 1,578 sq. ft. of main-floor commercial space in Knox City Centre, a modern mixed-use condominium building prominently located at the corner of Second Street East and Sydney Street. The unit is currently vacant, offering an end user the opportunity to occupy and customize the space to suit their business needs. The unit includes a two-piece washroom, shared commercial parking and access to additional visitor parking. Knox City Centre features four commercial units on the main floor, with 36 residential condominium units above, and is ideally situated in Cornwall's downtown core, close to shopping, restaurants, professional services, Lamoureux Park, and the waterfront.CBD zoning allows for a wide range of commercial uses, including office, financial institution, medical, retail, restaurant, pharmacy and personal service uses, among others. Buyers are to verify with the City of Cornwall and the condominium corporation that their intended use and any required alterations are permitted. A versatile downtown commercial condo with immediate availability, excellent accessibility and flexible zoning, ideal for a professional office, medical or wellness practice, retail concept, service-based business or other approved commercial use. (id:66811)

Financial sandbox

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Estimate
Purchase price$389K
Down payment30% · $117K
Interest rate6.25%
Amortization25 years
Occupancy87%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$19K

Annual cash flow

$-3K

Cash-on-cash

-2.35%

DSCR

0.87

Going-in cap

4.84%

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

40,979

Households

14,775

Median income

$134,000

Median age

38.7

Daytime population

40,775

5-yr growth

7.4%

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

Secure deal room

Confidential diligence documents for 102 - 108 SECOND STREET E, Cornwall.

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.