Business For Sale · Industrial

29 Wellington Street, Corner Brook

29 Wellington Street, Corner Brook, Newfoundland & Labrador A2H5H5

$777,000 total

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Asset Class

Industrial

Size

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Building class

A

Zoning

IB — Industrial Business

$ / SF

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Occupancy

92%

Year Built

1950

Clear height

22 ft

Loading docks

10

About this property

HERES YOUR OPPORTUNITY TO ACQUIRE 8400 SQ.FT OF VERSATILE COMMERCIAL/COMMUNITY SPACE IN A WELL ESTABLISHED CORNER BROOK NEIGHBOURHOOD!! BEING LOCATED ADJACENT TO DOUG SWEETAPPLE PITCH, FRED BASHA MEMORIAL FIELD, THE SKATEPARK/DOGPARK, AND DOWNTOWN CORNER BROOK MAKES BUYING HERE MAKE SENSE!! FORMERLY HOME TO SONRISE FAMILY CHURCH, THIS PROPERTY OFFERS SIGNIFICANT POTENTIAL FOR A CHURCH, COMMUNITY ORGANIZATION, GATHERING FACILITY, OR OTHER PERMITTABLE ESTABLISHMENT!! AS YOU ENTER THERE'S A BRIGHT AND SPACIOUS WELCOME AREA WITH RECEPTION DESK, THREE GOOD SIZE OFFICES, AND THE SANCTURARY AREA WITH SUBSTANTIAL STORAGE AT THE REAR!! DOWNSTAIRS YOU'LL FIND SEVERAL PUBLIC WASHROOMS (AND PLUMBING ABLE TO ADD MORE), SEVERAL CLASSROOMS/MEETINGROOMS TO FIT A VARIETY OF USES!! THIS PROPERTY COMES WITH A 600 AMP, 3 PHASE ELECTRICAL SERVICE, NEWER ASPHALT ROOF (FALL OF 2023) AND A LARGE PAVED PARKING THAT CAN ACCOMODATE 30 PLUS VEHICLES!! TONS OF POTENTIAL HERE!! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$777K
Down payment30% · $233K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$38K

Annual cash flow

$-5K

Cash-on-cash

-2.00%

DSCR

0.89

Going-in cap

4.94%

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

69,077

Households

27,552

Median income

$115,000

Median age

32.8

Daytime population

75,294

5-yr growth

2%

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

Secure deal room

Confidential diligence documents for 29 Wellington 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.