Business For Sale · Multifamily

173 KING STREET, West Nipissing (Sturgeon Falls)

173 KING STREET, West Nipissing (Sturgeon Falls), ON P2B1R6

$749,900 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

96%

About this property

Outstanding investment opportunity in the heart of Sturgeon Falls! This fully tenanted mixed-use property at 173 King St. features 2 commercial units and 6 residential apartments on a generous 66' x 132' lot just of Highway 17. Investors will appreciate the turn key potential of this solid asset with C1 zoning, which currently generates strong financial returns with a gross performance showing excellent revenue stability. The property completely eliminates parking headaches for tenants and patrons by featuring 12 dedicated spaces. Don't miss out on adding this high-yield commercial asset to your portfolio in the growing community of West Nipissing. Apartment #1: $779.57/month. Apartment #2: $2015/month. Apartment #3: $825.19/month. Apartment #4: $1000.89/month. Apartment #5: $1050/month. Apartment 6: $941.87/month. Commerce #1: $986/month. Commerce #2: $920.45/month. (id:66811)

Financial sandbox

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Estimate
Purchase price$750K
Down payment30% · $225K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$37K

Annual cash flow

$-4K

Cash-on-cash

-1.85%

DSCR

0.90

Going-in cap

4.99%

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

48,520

Households

19,887

Median income

$85,500

Median age

41.5

Daytime population

56,463

5-yr growth

8.8%

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

Secure deal room

Confidential diligence documents for 173 KING STREET, West Nipissing (Sturgeon Falls).

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.