1/411161 Newport Ave, Oak Bay
1161 Newport Ave, Oak Bay, BC V8S5E6
$2.4M total
4,306 SF
Asset Class
Office
Size
4,306 SF
Building class
A
Zoning
CO — Commercial Office
$ / SF
$557
Occupancy
95%
Year Built
1911
Lot Size
0.1652892561983471 ac
About this property
Desirable South Oak Bay location, across the street from Windsor Park, and a block from the ocean. Rarely does a C-2 commercial opportunity like this come up for sale. Original character home built in 1911, is nicely updated and has 3 bedrooms. The commercial section at the front facing Newport Ave was built later with great visibility. Lower level of home has 1 bedroom suite. Total size is approximately 4300 sq/ft. Commercial space currently leased to one tenant and is approximately 3550 sq/ft. which includes the original home and the front Commercial office space. The lower level suite is not part of the lease, and is about 760 sq/ft. Large 7200 sq/ft lot. Nice updates throughout the commercial space and house. Great future potential for a work/live arrangement as house could be separated from commercial building at front, and it has it's own address and separate side entrance. Also a great future redevelopment property. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$11K
Projected NOI
$167K
Annual cash flow
$35K
Cash-on-cash
4.79%
DSCR
1.26
Going-in cap
6.98%
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.
Rent roll (estimated)
| Tenant | Area | Expiry |
|---|---|---|
| Prairie Coffee Roasters | 1,391 SF | 2033-11 |
| Prairie Coffee Roasters | 2,700 SF | 2033-11 |
Area demographics
Trade area within 3 miles of the property.
Population
135,667
Households
53,076
Median income
$83,000
Median age
40.6
Daytime population
177,720
5-yr growth
2.3%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 1161 Newport Ave, Oak Bay.
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.