For Sale · Land

1079 BAY STREET, Norfolk (Port Rowan)

1079 BAY STREET, Norfolk (Port Rowan), ON N0E1M0

$350,000 total

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Asset Class

Land

Size

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Building class

B

Zoning

AG — Agricultural

$ / SF

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Occupancy

91%

About this property

Port Rowan building lot! 70.16 feet frontage by 163.19 feet (11,668 sq. ft.) Small town living combined with modern conveniences. Here is your opportunity to build your custom home, your retirement retreat or your seasonal escape. This a prime piece of land in Port Rowan. If you are considering multi-generational living with your parents or adult children then consider building semi-detached homes. This lot will accommodate semi-detached homes. Utility hookups; gas & hydro at lot line; water and sewer must be brought in from road cut. Ideal location on Bay Street, walking distance to downtown shops, restaurants, the year-round grocery store, library, and the marina on the Inner Bay. Walk to Timmies for your morning coffee. Enjoy all that the Port Rowan and Long Point area has to offer including beaches and boating, golfing, wineries, breweries, hiking and cycling. Explore Backus Heritage Conservation Area, Long Point Biosphere Reserve (UNESCO Biosphere Reserve) or Long Point Eco Adventures. If you want experience a little culture than the Lighthouse Festival Theatre is a shore drive away in Port Dover; outdoor concerts at the Burning Kiln Winery at St. Williams. The history buffs will love Port Burwell with its Museum of Naval History - HMCS Ojibwa. The perfect active lifestyle for the young at heart, active retirees see what Ontario's South Coast has to offer. (id:66811)

Financial sandbox

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Estimate
Purchase price$350K
Down payment30% · $105K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$17K

Annual cash flow

$-2K

Cash-on-cash

-2.33%

DSCR

0.87

Going-in cap

4.84%

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

101,087

Households

39,189

Median income

$62,000

Median age

36.9

Daytime population

101,759

5-yr growth

3.2%

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

Secure deal room

Confidential diligence documents for 1079 BAY STREET, Norfolk (Port Rowan).

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.