Business For Sale · Multifamily

82522 BLUEWATER HIGHWAY, Ashfield-Colborne-Wawanosh (Colborne)

82522 BLUEWATER HIGHWAY, Ashfield-Colborne-Wawanosh (Colborne), ON N7A3X9

$999,000 total

4,000 SF

Asset Class

Multifamily

Size

4,000 SF

Building class

A

Zoning

RA9 — High Rise

$ / SF

$250

Occupancy

95%

Lot Size

10.024 ac

About this property

An incredible investment/commercial opportunity exists on a large parcel of land along highly travelled Highway 21, just north of Goderich! This unique property offers excellent exposure, flexible AG4-6 zoning closest to the highway, and a wide range of potential uses including retail, self-storage, office space, hobby farm, pasture use, and/or residential opportunities such as a four-plex dwelling. Site plans for a self-storage business and rebuild were previously approved (attached), with by-law amendments allowing for both commercial and residential development. Ideally positioned near Lake Huron cottage country, Point Farms Provincial Park, Goderich, Kincardine, and Port Elgin, this location provides strong accessibility and long term opportunity. The property includes existing structures that can be renovated or repurposed, including a 1,000 sq. ft. retail area, a spacious home or office area with a 1,200 sq. ft. basement, a separate 780 sq. ft. apartment, and a detached 840 sq. ft. garage/shop with a metal roof. With an abundance of parking capacity and room for further development, this property offers a strong foundation for a new business, expansion, investment project, or mixed-use concept. Bring your vision to life along the beautiful Lake Huron shoreline, where exposure, flexibility, and future potential come together in one rare offering. NOTE: Property is being sold "as is, where is". Phase 2 Environmental Study is available. (id:66811)

Financial sandbox

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Estimate
Purchase price$999K
Down payment30% · $300K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$47K

Annual cash flow

$-9K

Cash-on-cash

-2.88%

DSCR

0.84

Going-in cap

4.68%

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.

Rent roll (estimated)

TenantAreaExpiry
Northbridge Logistics3,788 SF2034-02

Area demographics

Trade area within 3 miles of the property.

Population

85,492

Households

40,254

Median income

$82,000

Median age

40.4

Daytime population

110,909

5-yr growth

8.8%

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

Secure deal room

Confidential diligence documents for 82522 BLUEWATER HIGHWAY, Ashfield-Colborne-Wawanosh (Colborne).

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.