Business For Sale · Specialty

72 COLBORNE STREET, Goderich (Goderich (Town))

72 COLBORNE STREET, Goderich (Goderich (Town)), ON N7A2V9

$1.1M total

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Asset Class

Specialty

Size

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Building class

B

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

94%

Lot Size

0.275 ac

About this property

This stylish 6-bedroom, 7-bathroom bed and breakfast in the heart of Goderich offers an exceptional hospitality opportunity. Guests can unwind in any of the five beautifully appointed suites, while you enjoy your own comfortable, private living space. With 3,400 square feet across three levels, there is ample room for both business and pleasure.A large communal dining room seats 10 for breakfast and could also host meetings, paint nights or workshops during the off-season. In the owners' wing, a private dining room opens to the back deck, while a charming living room provides space to relax or entertain. A wireless doorbell system with three separate bells helps you respond quickly to guests.The kitchen is equipped to prepare breakfast for a full house, with two washers, two dryers, two refrigerators, two ovens, a second sink and a large island. A back staircase leads to an organized housekeeping area and provides easy access to the second floor.Immaculately maintained, this century home showcases stained glass, oak floors, tall ceilings, a grand centre staircase and a lovely front porch. Guests can gather on the porch, back deck, beneath the pergola or in the backyard. A shed provides secure storage for recreational equipment.Just steps from downtown, the property is close to the farmers' market, outdoor concerts, shops, library and restaurants. A 15-minute walk takes you to Lake Huron for a swim, ice cream or a sunset stroll along the boardwalk. Thoughtfully arranged for the comfort of both owners and guests, this is a welcoming place to live and a practical space to run a B&B. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.15M
Down payment30% · $345K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$82K

Annual cash flow

$18K

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

105,188

Households

37,989

Median income

$78,000

Median age

39.6

Daytime population

131,897

5-yr growth

7.6%

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

Secure deal room

Confidential diligence documents for 72 COLBORNE STREET, Goderich (Goderich (Town)).

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.