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Business For Sale · Multifamily

645 MAIN STREET E, North Bay (Central)

645 MAIN STREET E, North Bay (Central), ON P1B1C1

$589,900 total

8,391.53 SF

Asset Class

Multifamily

Size

8,391.53 SF

Building class

B

Zoning

RA9 — High Rise

$ / SF

$70

Occupancy

83%

About this property

Attention investors! A rare find in deed yielding around 10% cap rate and zoned both residential and commercial. Lots of possibilities situated on a great lot accommodating roughly 10 vehicles. This legal, low maintenance triplex currently has 2 units empty! Pick your own tenants, Historically each unit has been rented for $2,300.00 plus Hydro! Unit 641 has been fully renovated from top to bottom! Third unit 645 currently occupied by a long term tenant in great standing, paying $1,621.00 per month plus Hydro. The entire property is heated by 1 boiler system, easy to service and well maintained . Very low maintenance exterior with minimal grass. Lots of updates done recently including reno's, paint, roof, electrical panel, appliances and much more. Each unit has their own laundry and basement area for storage. This is the one to add to your portfolio. You can live in one unit and possibly live for free with the income!!! Don't miss out (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$590K
Down payment30% · $177K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$22K

Annual cash flow

$-11K

Cash-on-cash

-6.25%

DSCR

0.66

Going-in cap

3.67%

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
Summit Trades Supply3,666 SF2028-05
Summit Trades Supply1,735 SF2028-05
Summit Trades Supply1,539 SF2028-05

Area demographics

Trade area within 3 miles of the property.

Population

87,275

Households

30,529

Median income

$74,500

Median age

39.8

Daytime population

129,562

5-yr growth

2.3%

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

Secure deal room

Confidential diligence documents for 645 MAIN STREET E, North Bay (Central).

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.