Business For Sale · Specialty

6667 HIGHWAY 38, Frontenac (Frontenac South)

6667 HIGHWAY 38, Frontenac (Frontenac South), ON K0H2W0

$449,000 total

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Asset Class

Specialty

Size

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Building class

B

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

98%

About this property

Mixed-use property on a corner lot in the Village of Verona, South Frontenac Township, with its own surface parking lot. The main level is divided into four commercial units. Two of these are large front units with direct frontage and good street presence on County Road 38. A 3-bedroom apartment occupies the upper level. The building is vacant apart from one small rear commercial unit, which is occupied on a month-to-month basis. An owner-occupier can operate a business from one of the front units and live in the apartment upstairs. An investor can lease up the vacant space and benefit from the property's location in Verona's main commercial corridor. Sale includes two parcels: 6667 County Road 38 (PIN 361460211) and 4343 Walker Street (PIN 361460213), both zoned UC - Urban Commercial. Parcel 1 features a 2-storey building with +/- 11,025 SF of gross floor area comprising +/- 9,396 SF of main-level commercial space in 4 units and a +/- 1,629 SF 3-bedroom apartment above. Concrete block construction on stone foundation. Steel siding and brick exterior. Flat built-up tar and gravel roof. 400-amp, 240V, 3-phase electrical. Heated by oil furnace (main) and electric baseboard (upper). Private well water and holding tank sewage system. Parcel 2 (+/- 6,135 SF) is a gravel-surfaced parking lot with vehicular access from Walker Street. Corner lot at County Rd 38 and Walker St with excellent visibility. Approximately 35 mins from Kingston. UC zoning permits a wide range of commercial uses. Property sold as-is. Please do not attend without an appointment. (id:66811)

Financial sandbox

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Estimate
Purchase price$449K
Down payment30% · $135K
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$36K

Annual cash flow

$11K

Cash-on-cash

7.95%

DSCR

1.43

Going-in cap

7.93%

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.

Area demographics

Trade area within 3 miles of the property.

Population

44,239

Households

16,981

Median income

$112,000

Median age

45.1

Daytime population

72,106

5-yr growth

9%

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

Secure deal room

Confidential diligence documents for 6667 HIGHWAY 38, Frontenac (Frontenac South).

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.