Business For Sale · Multifamily

196-198 QUEEN STREET E, St. Marys

196-198 QUEEN STREET E, St. Marys, ON N4X1B1

$1.1M total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

95%

About this property

Located in a prime high-visibility location in the heart of downtown St. Marys, this fully tenanted 7,000+ sq. ft. mixed-use commercial building offers a strong investment opportunity with multiple income streams already in place. With excellent exposure and a central downtown presence, the property is well positioned for long-term growth and stability. The main level features a spacious commercial unit complete with separate utilities, two bathrooms, and a lunchroom/office area. The upper level includes four two-bedroom, one-bathroom apartments, with two recently renovated, adding to the property's overall appeal. At the rear lower level, a large heated garage with bathroom facilities, generating additional commercial income. Common areas have been recently updated and well maintained, showcasing pride of ownership throughout. A turnkey investment opportunity offering strong visibility, a fully occupied tenant mix, and dependable income in a thriving downtown community. Financial information available upon request. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.15M
Down payment30% · $345K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$39K

Annual cash flow

$-25K

Cash-on-cash

-7.28%

DSCR

0.61

Going-in cap

3.36%

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

138,795

Households

58,545

Median income

$109,000

Median age

32.5

Daytime population

118,071

5-yr growth

6.1%

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

Secure deal room

Confidential diligence documents for 196-198 QUEEN STREET E, St. Marys.

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.