Business For Sale · Office

71 Park Street, Corner Brook

71 Park Street, Corner Brook, Newfoundland & Labrador A2H2X1

$599,000 total

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Asset Class

Office

Size

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Building class

A

Zoning

CO — Commercial Office

$ / SF

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Occupancy

95%

Year Built

1923

About this property

A unique opportunity to own a versatile, extensively renovated property with both commercial and residential space. Ideally located on a main city route, this well-maintained building offers excellent visibility, dedicated rear parking, and a flexible layout suited to a wide range of professional and service-based uses. The main floor includes a welcoming waiting and reception area, multiple client rooms, a lab or production space, a private office, storage, and a washroom. It is well suited for medical, dental, therapeutic, professional, or other service-related purposes, with a practical layout that can be adapted to meet diverse needs. Two spacious, self-contained apartments add further value by providing rental income. The building has undergone two major renovations. In 1990, the main floor was remodelled, with updates to plumbing, electrical, flooring, and more. In 2015, both apartments dramatically changed with a new gable end and updates to plumbing, electrical, flooring and appliances. New siding and windows were added to complete the 2015 project. In 2025, an interior heat pump system was installed to provide efficient heating and cooling for the main floor. Combining functional commercial space with income-producing residential units, this property offers flexibility, convenience, and strong potential for its next owner. Call today to arrange your personal tour. (id:66811)

Financial sandbox

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Estimate
Purchase price$599K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$35K

Annual cash flow

$2K

Cash-on-cash

1.15%

DSCR

1.06

Going-in cap

5.89%

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

94,317

Households

42,893

Median income

$109,500

Median age

36.2

Daytime population

90,775

5-yr growth

7.7%

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

Secure deal room

Confidential diligence documents for 71 Park Street, Corner Brook.

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.