For Sale · Retail

103 - 108 SECOND STREET E, Cornwall

103 - 108 SECOND STREET E, Cornwall, ON K6H3H1

$359,900 total

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Asset Class

Retail

Size

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Building class

C

Zoning

CSC — Shopping Centre

$ / SF

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Occupancy

97%

About this property

Investment opportunity in the heart of downtown Cornwall. Unit #103 at 108 Second Street East offers approximately 1,413 sq. ft. of main-floor commercial space in Knox City Centre, a modern mixed-use condominium building prominently located at the corner of Second Street East and Sydney Street. The unit fronts directly onto Sydney Street and is currently leased to an established financial consulting firm, with a valid lease in place until December 31, 2030, providing an investor with immediate rental income. The space includes 2 commercial parking spaces, and access to additional visitor parking. Knox City Centre features four commercial units on the main floor, with 36 residential condominium units above, and is ideally situated close to shopping, restaurants, professional services, Lamoureux Park, and Cornwall's waterfront. Central Business District (CBD) zoning allows for a wide range of commercial uses, including office, financial institution, medical, retail, restaurant, pharmacy and personal service uses, among others. Buyers are to verify with the City of Cornwall and the condominium corporation that their intended use and any required alterations are permitted. A well-located, income-producing commercial condominium with an established tenancy and versatile downtown zoning. Lease and financial details are available to qualified buyers upon execution of a confidentiality agreement. (id:66811)

Financial sandbox

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Estimate
Purchase price$360K
Down payment30% · $108K
Interest rate6.25%
Amortization25 years
Occupancy97%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$23K

Annual cash flow

$3K

Cash-on-cash

2.58%

DSCR

1.14

Going-in cap

6.32%

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

133,547

Households

54,042

Median income

$94,000

Median age

43

Daytime population

123,009

5-yr growth

4.4%

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

Secure deal room

Confidential diligence documents for 103 - 108 SECOND STREET E, Cornwall.

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.