For Sale · Retail

342 KING STREET, Midland

342 KING STREET, Midland, ON L4R3M8

$449,999 total

2,535 SF

Asset Class

Retail

Size

2,535 SF

Building class

B

Zoning

CB1 — Low Intensity Business

$ / SF

$178

Occupancy

84%

About this property

Welcome to Your New Investment Opportunity! Nestled in the heart of Midland, this stunning classic-century downtown building is a piece of Midland's history and awaits your vision. Starting from a blank canvas, this property overflows with charm, promising an exciting venture for savvy investors. Commercial Space is Available and ready for your creative touch! Picture the possibilities: whether it's a boutique shop, a cozy café, a Pho House, or a trendy gallery. The choice is yours! Upper Floors: With a 3 bedroom 2 Bath Apt. Imagine waking up to the sun streaming through the windows. These upper levels can be transformed into your dream home, or even maybe a charming Airbnb retreat. The views of the bay from select windows are simply breathtaking. As this town blossoms into a vibrant hub, you'll be at the epicentre of growth. Explore the downtown core, stroll along the town docks, and unwind in the nearby parks. The arena, curling club, YMCA, and Little Lake Park are all within reach. Main Floor Highlights: Hardwood Floors, Gas Fireplace, Original Trim & Pocket Doors, Two Public Washrooms, Convenience for patrons and a Large Front Patio Perfect for outdoor seating. **Parking**: No worries! Ample parking awaits out back. **Recent Upgrades**: Roof Replaced (2020)**: Peace of mind for years to come. - ** Paved Driveway** Wall-Hung Boiler with Glycol**: Efficient heating. - **50-Gallon Hot Water Tank**: Always ready for your needs. Don't miss out on this prime investment opportunity. This charming building is your gateway to a bright future! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$450K
Down payment30% · $135K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$20K

Annual cash flow

$-5K

Cash-on-cash

-3.45%

DSCR

0.81

Going-in cap

4.51%

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 LLP897 SF2027-10
Aurora Legal LLP519 SF2027-10
Aurora Legal LLP400 SF2027-10
Aurora Legal LLP406 SF2027-10

Area demographics

Trade area within 3 miles of the property.

Population

40,812

Households

19,274

Median income

$108,000

Median age

46

Daytime population

57,723

5-yr growth

2.9%

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

Secure deal room

Confidential diligence documents for 342 KING STREET, Midland.

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.