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For Sale · Specialty

55,59,63 Park Street, Sussex

55,59,63 Park Street, Sussex, NB E4E1T6

$495,000 total

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Asset Class

Specialty

Size

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Building class

C

Zoning

US — Urban Services

$ / SF

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Occupancy

92%

Lot Size

0.3298853926253935 ac

About this property

Rare commercial opportunity in downtown Sussex! These 3 buildings (which are being sold as one) offer a variety of possibilities for investors. Currently being used as a mechanic shop and storage, each building offers the chance for separate commercial ventures or can be combined into one larger unit. The end building (#63) has two large bay doors, 2 entrances and office, a fenced-in outdoor storage area and will come with a hoist and air compressor. The middle building (#59) is perfect for storage and has a dock-height loading bay door in the back. The third building (#55) has 1 entrance and was previously used as a take-out and cooking prep space which means it can be zoned for food safety. The two end units have washrooms and each unit has an upstairs. There is parking in front of the bay doors on one end and additional parking space is available along the tracks. With high visibility and central location, these units are prime space for all types of businesses. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$495K
Down payment30% · $149K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$36K

Annual cash flow

$8K

Cash-on-cash

5.50%

DSCR

1.30

Going-in cap

7.19%

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

118,786

Households

48,929

Median income

$97,000

Median age

45.1

Daytime population

185,709

5-yr growth

3.4%

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

Secure deal room

Confidential diligence documents for 55,59,63 Park Street, Sussex.

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.