Business For Sale · Retail

11 Bayview Drive, Summerside

11 Bayview Drive, Summerside, PE C1N3Z9

$399,000 total

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Asset Class

Retail

Size

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Building class

B

Zoning

CSC — Shopping Centre

$ / SF

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Occupancy

96%

Lot Size

0.38 ac

About this property

A Unique Restaurant & Dairy Bar Opportunity in Summerside! Discover the potential of this move in ready and versatile restaurant and dairy bar property, offering an excellent opportunity for entrepreneurs, investors, or those looking to establish their own food service venture in Summerside. Featuring approximately 924 sq. ft. of restaurant space, this property is being offered as a turnkey opportunity, providing the next owner with the flexibility to continue its existing concept or introduce a fresh vision. With over 30 years of history as a local food service destination, it offers an established setting ready for its next chapter. The property features approximately 20 convenient parking spaces, easy access, wheelchair accessibility, and an additional 20 x 30 ft. storage building, offering valuable space for operational and storage needs. Enjoy a location with convenient proximity to Summerside's golf course and scenic waterfront boardwalk, connecting the business to the city's recreational amenities and seasonal activity. Whether you envision a traditional dairy bar, a casual dining destination, or a new food service concept, this property offers an exciting opportunity to make your mark in Summerside. Bring your vision and explore the possibilities. Call today to arrange your private viewing! All measurements to be verified by the purchaser. (id:66811)

Financial sandbox

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Estimate
Purchase price$399K
Down payment30% · $120K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$25K

Annual cash flow

$3K

Cash-on-cash

2.09%

DSCR

1.11

Going-in cap

6.17%

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

106,643

Households

37,249

Median income

$92,500

Median age

42.7

Daytime population

95,599

5-yr growth

5.4%

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

Secure deal room

Confidential diligence documents for 11 Bayview Drive, Summerside.

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.