Business For Sale · Office

61 Elizabeth Drive, Gander

61 Elizabeth Drive, Gander, Newfoundland & Labrador A1V1G7

$1.3M total

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Asset Class

Office

Size

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Building class

A

Zoning

DC1 — Direct Control

$ / SF

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Occupancy

93%

About this property

Positioned in a high-visibility, high-traffic area of Gander, 61 Elizabeth Drive offers a prime opportunity to secure a substantial commercial investment in one of the town’s most established business corridors. If you’re searching for a property that delivers on location, scale, and long-term value, this impressive building checks all the boxes. Offering over 14,000 sq. ft. of fully refurbished office space, the property features approximately 7,127 sq. ft. on the main level and 7,242 sq. ft. on the second floor, making it ideal for a wide range of professional, administrative, or commercial uses. Extensively upgraded over the past 15 years, this building provides peace of mind with key improvements already in place. It is equipped with an 800-amp electrical service, baseboard heating, and roof-mounted HVAC units, ensuring functionality and efficiency for tenants or owners alike. Constructed in 1978 on a solid concrete slab, the building boasts a durable brand new 2 ply torched-on membrane roof, installed September 2026 and a low-maintenance exterior finished in brick and metal siding, combining longevity with strong curb appeal. Adding even more value, both parking lots have been resurfaced within the past 15 years, offering ample on-site parking-a key feature for any thriving business location. This is a rare opportunity to own a well-maintained, strategically located commercial property in the heart of Gander-perfect for investors seeking a reliable income generating asset or businesses looking to establish themselves in a prominent location. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.25M
Down payment30% · $375K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$6K

Projected NOI

$68K

Annual cash flow

$-831

Cash-on-cash

-0.22%

DSCR

0.99

Going-in cap

5.47%

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

133,071

Households

46,204

Median income

$101,000

Median age

34.6

Daytime population

115,411

5-yr growth

4.3%

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

Secure deal room

Confidential diligence documents for 61 Elizabeth Drive, Gander.

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.