Business For Sale · Office

Suite 2 216 Water Street, Summerside

Suite 2 216 Water Street, Summerside, PE C1N1B3

Price on request

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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

85%

Year Built

1990

About this property

Professional office space available for lease in Summerside, PEI. Suite 2 consists of a private, single-room office featuring a functional square layout and new flooring. The suite is located at the end of the hallway, just off the building?s main foyer and entrance. While the office does not have a window or dedicated closet space, it provides a practical and affordable option for a professional, consultant, or service-based business requiring a smaller workspace. Heat and electricity are included in the monthly rent. The suite is located within a professionally managed, secure commercial building offering 24/7 tenant access and on-call maintenance. A common washroom is conveniently located immediately down the hallway, and a building caretaker maintains the common areas. Parking options are also available. For the right tenant, there may be an opportunity to combine Suite 2 with Suite 1 to accommodate a larger space requirement. 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. $460 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
Occupancy85%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$70K

Annual cash flow

$-13K

Cash-on-cash

-2.97%

DSCR

0.84

Going-in cap

4.65%

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

114,513

Households

47,357

Median income

$133,500

Median age

34.3

Daytime population

116,435

5-yr growth

7.4%

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

Secure deal room

Confidential diligence documents for Suite 2 216 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.