For Sale · Retail

A&B - 79 KING STREET W, Cobourg

A&B - 79 KING STREET W, Cobourg, ON K9A2M4

$550,000 total

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Asset Class

Retail

Size

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Building class

A

Zoning

CSC — Shopping Centre

$ / SF

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Occupancy

91%

About this property

Exceptional opportunity to own two commercial condominium units in the heart of Downtown Cobourg's vibrant business, shopping and tourist district. Ideally positioned on bustling Main Street, these contemporary, well-renovated units offer excellent storefront exposure, large display windows, high ceilings and the flexibility of both investment income and owner occupancy. The two units are connected by a shared front vestibule while maintaining completely separate, private spaces and have successfully operated independently for years. Subject to condominium approval, there may also be potential to combine them into one larger commercial space. Unit A is currently occupied by a long-term office tenant and features a welcoming reception area, four private offices, storage/file cabinetry and rough-ins for two 2-piece washrooms, providing immediate income for an investor. Unit B offers a bright, open-concept retail/commercial space previously occupied by a successful retail business. The space features high ceilings, updated flooring and excellent Main Street visibility, making it well suited for retail, professional services, a boutique, studio or other commercial uses. Enjoy a highly walkable location steps from Cobourg's Marina, Yacht Club, harbour, waterfront, Esplanade and beach, surrounded by banks, professional services, restaurants, cafés, boutiques, Victoria Hall, the Art Gallery and Concert Hall. The VIA Rail station is approximately one block away, with convenient access to Highway 401 and approximately 100 km to Toronto. A unique turnkey opportunity offering income, flexibility and exceptional exposure in one of Downtown Cobourg's most established commercial districts. Occupy one unit while generating income from the other, lease both, or explore the potential to combine the spaces to suit your business needs. (id:66811)

Financial sandbox

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Estimate
Purchase price$550K
Down payment30% · $165K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$29K

Annual cash flow

$-1K

Cash-on-cash

-0.75%

DSCR

0.96

Going-in cap

5.32%

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

60,622

Households

22,085

Median income

$135,500

Median age

39.2

Daytime population

90,448

5-yr growth

8%

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

Secure deal room

Confidential diligence documents for A&B - 79 KING STREET W, Cobourg.

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.