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For Sale · Multifamily

7461 HIGHWAY 6, Northern Bruce Peninsula

7461 HIGHWAY 6, Northern Bruce Peninsula, ON N0H2R0

$789,000 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

94%

About this property

TOBERMORY IN-TOWN OPPORTUNITY! Commercially zoned and ideally located in the heart of Tobermory, this versatile property is within walking distance to the harbour, shops, restaurants, recreation and local amenities. Offering over 2,300 sq.ft. of living space, the property features two separate living areas with 2 kitchens, 2 living rooms, 5 bedrooms plus 3 loft-style storage areas, and 4 full bathrooms. Perfect as a year-round home, cottage, income property or B&B opportunity. Enjoy a blend of historic character and modern updates, including 2 propane fireplaces, a sunroom, recreation room with pool table, updated water treatment system and laundry facilities. Outside you'll find low-maintenance landscaping, multiple seating areas, a unique lighthouse-style storage building and an additional storage shed. Located directly on Highway 6 in downtown Tobermory! Walk to restaurants, ice cream shops, the Chi-Cheemaun ferry and enjoy nearby boating, hiking, diving, kayaking and more. A turn-key property loaded with potential in one of Tobermory's most sought-after locations. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$789K
Down payment30% · $237K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$27K

Annual cash flow

$-17K

Cash-on-cash

-7.08%

DSCR

0.62

Going-in cap

3.42%

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

74,696

Households

33,882

Median income

$87,000

Median age

44.8

Daytime population

103,917

5-yr growth

8%

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

Secure deal room

Confidential diligence documents for 7461 HIGHWAY 6, Northern Bruce Peninsula.

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.