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For Sale · Specialty

331 MAIN Street, Port Dover

331 MAIN Street, Port Dover, ON N0A1N0

$1.6M total

11,252 SF

Asset Class

Specialty

Size

11,252 SF

Building class

B

Zoning

DC2 — Site Specific

$ / SF

$140

Occupancy

98%

Year Built

1924

About this property

Situated in the heart of downtown Port Dover, 331 Main St is a large mixed-use commercial property offering a sound investment opportunity in a prime lakeside community business location. This substantial semi-detached building with streetfront visibility, has steady car and foot traffic and dual-street access spanning all the way back to St. George Street. In addition to the Public Parking lot next door and available street parking, there is the added bonus of a sizeable private parking lot off of St. George Steet for customers, staff and deliveries. The main level features 5,536 square feet of commercial space, currently rented as a well established retail store along with the expansive basement which provides functional storage space, a private office, kitchenette/staff room, and a washroom. The upper level houses two fully self-contained residential apartments, each with independent private entrances (at either end of the building), kitchens, dedicated in-suite laundry rooms, and private rooftop patio areas. The front upper unit boasts a spacious 3-bedroom, 1-bathroom layout, while the back unit offers a comfortable 1-bedroom, 1-bathroom configuration. This versatile property has had several recent updates and seamlessly combines steady commercial income with residential revenue in the Port Dover's downtown core. Click on the links to view the listing video, photographs, and the interactive floorplan! (id:66811)

Financial sandbox

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Estimate
Purchase price$1.58M
Down payment30% · $474K
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$101K

Annual cash flow

$13K

Cash-on-cash

2.83%

DSCR

1.15

Going-in cap

6.39%

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
Summit Trades Supply5,936 SF2027-12
Summit Trades Supply2,732 SF2027-12
Summit Trades Supply1,239 SF2027-12
Summit Trades Supply1,064 SF2027-12

Area demographics

Trade area within 3 miles of the property.

Population

122,645

Households

49,350

Median income

$91,000

Median age

42.7

Daytime population

163,200

5-yr growth

7.9%

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

Secure deal room

Confidential diligence documents for 331 MAIN Street, Port Dover.

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.