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$799,000 total
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Asset Class
Specialty
Size
—
Building class
B
Zoning
US — Urban Services
$ / SF
—
Occupancy
94%
Year Built
1974
Lot Size
0.6 ac
Opportunity meets long term potential in the heart of Lake Country with this rare 0.60 acre property, strategically positioned within an evolving commercial corridor & zoned C1 Town Centre Commercial. Located directly across from a newly approved commercial development featuring four commercial buildings, with a grocery store anticipated as the primary anchor tenant, this property is well positioned to benefit from the continued growth of the surrounding area. The C1 zoning offers a diverse range of commercial & mixed use possibilities, including retail, professional offices, restaurants, cafes, medical services, personal services & residential uses above commercial space. With Lake Country continuing to grow, properties offering this combination of size, location & zoning flexibility are increasingly difficult to find. The property features a 3 bed plus den, 2 bath rancher with a basement, positioned toward one side of the lot to provide flexibility for future site planning. A detached shop, ample parking & RV access add to the property's functionality in the meantime. Bordering ALR lands yet close to existing & future amenities, this is a compelling opportunity to secure a strategically located property in one of Lake Country's emerging commercial hubs. Hold as a long-term investment, operate a business, explore redevelopment, or create a live/work opportunity with a rare combination of current utility, strategic positioning & future potential. (id:66811)
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Monthly debt service
$4K
Projected NOI
$55K
Annual cash flow
$11K
Cash-on-cash
4.63%
DSCR
1.25
Going-in cap
6.93%
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.
Trade area within 3 miles of the property.
Population
105,333
Households
38,624
Median income
$130,000
Median age
38.8
Daytime population
143,728
5-yr growth
1.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 10114 Newene Road, Lake Country.
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.