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Business For Sale · Specialty

255 DURHAM STREET, Kincardine

255 DURHAM STREET, Kincardine, ON N2Z2X9

$4.8M total

20,200 SF

Asset Class

Specialty

Size

20,200 SF

Building class

A

Zoning

US — Urban Services

$ / SF

$238

Occupancy

98%

About this property

A unique investment opportunity in the heart of Kincardine! Known as Malcolm Place since 1929, this impressive Italianate mansion was built in 1875 and sits on over half an acre, just one block from downtown, steps to Lake Huron and a short drive from Bruce Power. The building offers 41 residential rooms, each with a private bathroom. Many units with ductless heating and air conditioning. Shared amenities include two kitchens, laundry facilities, comfortable common areas, a spacious lobby and public washrooms. Elevator access and keypad room access add convenience. Historic charm shines through the original woodwork, ornate plaster details and grand staircase. Additional features include a copper roof, upgraded insulation, fire alarm with sprinkler system and 1,200-amp electrical service. A distinctive property combining character, extensive amenities, multiple uses and great income in a convenient location! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$4.80M
Down payment30% · $1.44M
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$22K

Projected NOI

$392K

Annual cash flow

$126K

Cash-on-cash

8.75%

DSCR

1.47

Going-in cap

8.17%

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
Aurora Legal LLP19,857 SF2030-11

Area demographics

Trade area within 3 miles of the property.

Population

76,747

Households

30,086

Median income

$112,000

Median age

34

Daytime population

67,909

5-yr growth

1.4%

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

Secure deal room

Confidential diligence documents for 255 DURHAM STREET, Kincardine.

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.