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Business For Sale · Office

19 Brine Street, St. John's

19 Brine Street, St. John's, Newfoundland & Labrador A1E2T1

$599,900 total

—

Asset Class

Office

Size

—

Building class

A

Zoning

CO — Commercial Office

$ / SF

—

Occupancy

94%

Year Built

1930

About this property

Tucked away on a quiet side street in trendy Downtown West, this property offers a rare opportunity to own a distinctive office or studio space. Architecturally reimagined by renowned architect Robert Mellon and formerly home to the studio of Ned Pratt, this character-filled building is anything but ordinary. Thoughtfully designed to celebrate its original architectural elements while incorporating distinctive features, the building offers an inspiring blend of history, character and creativity. Exposed post-and-beam construction, soaring ceilings, an impressive exposed ceiling truss system and open floor joists in select areas create a dramatic sense of space and architectural interest. Skylights flood the interior with natural light, highlighting its unique character. The layout offers an appealing mix of open and defined spaces, ideally suited to creative professionals, collaborative teams or businesses seeking areas for individual work and shared use. Two wood stoves add warmth, charm and ambience. Additional features include a kitchen area, a full bathroom with shower and paved parking at the front and additional parking at the rear. The interior also lends itself to potential conversion to include living quarters, offering exciting possibilities for a live/work arrangement, subject to approvals. The property extends through to Convent Square, providing additional frontage and access. The lot may also offer potential for future subdivision or additional development at the rear, subject to municipal approvals. An inspiring space with remarkable architectural character and exciting possibilities. Whether envisioned as a creative studio, professional office, live/work space or future development opportunity, this property invites imagination. Truly an architectural dream and a rare offering in one of Downtown West's most desirable locations. No conveyance of offers until Thursday, November 19 @ 11:00am and left open for acceptance until 5:00pm the same day. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$600K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$43K

Annual cash flow

$10K

Cash-on-cash

5.35%

DSCR

1.29

Going-in cap

7.15%

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

110,786

Households

40,584

Median income

$70,000

Median age

41

Daytime population

153,378

5-yr growth

7.1%

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

Secure deal room

Confidential diligence documents for 19 Brine Street, St. John's.

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.