
1/2264 KING STREET E, Clarington (Bowmanville), ON L1C1P9
$5M total
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Asset Class
Multifamily
Size
—
Building class
C
Zoning
RF6 — Medium Density
$ / SF
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Occupancy
90%
Lot Size
1.805 ac
Three-storey stucco-sided structure, offering approximately 74,000 square feet (6,875 square metres) above grade, plus a fully finished basement level. It is currently configured as a long-term care and retirement home facility. Please note that this building will not have future utility as a long-term care facility, as the bed allotment has been relocated to a new facility. Lands: Approximately 1.805 acres of land, located on the northeast corner of King Street East and Galbraith Court, with 317 feet of frontage along King Street East and 250 feet along Galbraith Court. This property is ideally located across the road from the Bowmanville Mall, an enclosed mall anchored by both a large-brand grocery chain and a large-brand pharmacy chain. Additionally, the subject property abuts a new five-storey, 32-unit residential build to the east and a mix of single homes and townhomes to the north. Zoning: The current zoning is R1-3 and is included in the "East Business District" as part of the recently approved Bowmanville East Urban Centre Secondary Plan, with an intended land use of Medium Density Residential. Note: Property Taxes are not assessed, as prior long-term care use was exempt. (id:66811)
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Monthly debt service
$23K
Projected NOI
$220K
Annual cash flow
$-57K
Cash-on-cash
-3.78%
DSCR
0.80
Going-in cap
4.41%
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
100,457
Households
44,631
Median income
$69,500
Median age
41.3
Daytime population
120,254
5-yr growth
4.9%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 264 KING STREET E, Clarington (Bowmanville).
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.