Business For Sale · Office

119 Water Street, Charlottetown

119 Water Street, Charlottetown, PE C1A1A8

Price on request

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Asset Class

Office

Size

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Building class

A

Zoning

CO — Commercial Office

$ / SF

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Occupancy

84%

Year Built

2026

About this property

Character, flexibility and a prime location in Charlottetown?s waterfront area come together at 119 Water Street. This heritage property offers approximately 1,900 SF of adaptable space in downtown Charlottetown?s waterfront tourism hub, just steps from Confederation Landing Park, the harbourfront boardwalk, Peake?s Wharf and its restaurants. The property also benefits from seasonal foot traffic generated by cruise ship arrivals, bringing visitors directly into the surrounding waterfront area throughout the tourism season. The location offers convenient access to the shops, cafés and services of the downtown core. Currently used as office space, the property features four office/flex rooms, two bathrooms, a full kitchen and space for a boardroom or collaborative workspace. Hardwood floors add warmth and character, while the spacious basement provides ample storage. Set on approximately 0.11 acres, the property includes paved on-site parking for 4?6 vehicles. Electric heat. Monthly rent is $3,500 plus HST and includes CAM fees and snow removal. The tenant is responsible for electricity and telecommunications. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$68K

Annual cash flow

$-15K

Cash-on-cash

-3.26%

DSCR

0.82

Going-in cap

4.56%

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

88,713

Households

32,662

Median income

$113,500

Median age

35.3

Daytime population

80,452

5-yr growth

6.4%

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

Secure deal room

Confidential diligence documents for 119 Water Street, Charlottetown.

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.