Business For Sale · Office

Suite 5 216 Water Street, Summerside

Suite 5 216 Water Street, Summerside, PE C1N1B3

Price on request

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Asset Class

Office

Size

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Building class

A

Zoning

CB2 — Central Business

$ / SF

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Occupancy

92%

Year Built

1990

About this property

Professional office space available for lease in Summerside, PEI. Suite 5 offers a larger and versatile layout consisting of three rooms plus access to a shared kitchenette. The suite features a main reception or work area, an additional office/den, a smaller private office, and three windows providing natural light. A water hookup is also available within the main reception area, offering additional flexibility for a variety of professional or service-based uses. Heat and electricity are included in the monthly rent. The shared kitchenette is conveniently accessible from the suite and includes access to a fire exit. The space is well suited to a professional office, consulting practice, or service-based business requiring multiple work areas. Located within a professionally managed, secure commercial building, tenants benefit from 24/7 access and on-call maintenance. Parking options are also available. Minimum one-year lease required. Some photos have been virtually staged to illustrate the property's potential. Measurements are based on older floor plans and are approximate. Buyers are advised to verify all measurements. $850 per month HST included. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$79K

Annual cash flow

$-4K

Cash-on-cash

-0.97%

DSCR

0.95

Going-in cap

5.25%

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

86,941

Households

36,874

Median income

$125,000

Median age

37.7

Daytime population

113,487

5-yr growth

6.1%

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

Secure deal room

Confidential diligence documents for Suite 5 216 Water Street, Summerside.

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.