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$1.6M 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
86%
Situated in the heart of downtown Port Dover, 331 Main St is a large mixed-use commercial property offering a sound investment opportunity in a prime lakeside community business location. This substantial semi-detached building with streetfront visibility, steady car and foot traffic and dual-street access spanning all the way back to St. George Street. In addition to the Public Parking lot next door and available street parking, there is the added bonus of a sizeable private parking lot off of St. George Steet for customers, staff and deliveries. The main level features 5,536 square feet of commercial space, currently rented by a well established retail store along with the expansive basement which provides functional storage space, a private office, kitchenette/staff room, and a washroom. The upper level houses two fully self-contained residential apartments, each with independent private entrances (at either end of the building), kitchens, dedicated in-suite laundry rooms, and private rooftop patio areas. The first upper unit boasts a spacious 3-bedroom, 1-bathroom layout, while the second unit offers a comfortable 1-bedroom, 1-bathroom configuration. This versatile property has had several recent updates and seamlessly combines steady commercial income with residential revenue in the downtown core of this popular lakeside community. (id:66811)
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Monthly debt service
$7K
Projected NOI
$70K
Annual cash flow
$-17K
Cash-on-cash
-3.61%
DSCR
0.80
Going-in cap
4.46%
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.
Trade area within 3 miles of the property.
Population
128,364
Households
50,928
Median income
$109,500
Median age
34.5
Daytime population
145,420
5-yr growth
1.9%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 331 MAIN STREET, Norfolk (Port Dover).
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.