Business For Sale · Specialty

15359 Cabot Trail, Chéticamp

15359 Cabot Trail, Chéticamp, NS B0E1H0

$650,000 total

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Asset Class

Specialty

Size

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Building class

B

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

85%

Year Built

2000

Lot Size

0.3452 ac

About this property

A Prime Commercial Opportunity in the Heart of Chéticamp! Known locally as the Pirogue Commercial Centre, this large, versatile commercial property sits in downtown Chéticamp, by the water, and is a hub for commercial, institutional and tourism activity along the Cabot Trail. Originally constructed around 2000 as a Fisheries Museum, the building became a commercial property in 2004 and is now home to 8 long-term commercial tenants, with potential for additional rental spaces. Continue operating it as a multi-tenant commercial centre or transform it to suit your vision, the possibilities are numerous. Waterfront zoning and applicable bylaws offer a wide range of potential uses, making this an opportunity worth exploring. The impressive two-storey building features a walk-out basement, ICF construction, multiple parking spaces, and incredible water views from many commercial spaces. A wrap-around deck extends along the second level, adding usable outdoor space and taking advantage of the property's setting. At the back, a small boardwalk provides a unique outdoor feature. Inside, you'll find hardwood flooring, exposed beams, vaulted ceilings and a balcony-style mezzanine overlooking one of the larger spaces. The second level also includes a kitchenette and large boardroom, offering potential income from meetings, workshops, presentations or private rentals. There are 4 washrooms in total, including one with a shower, and the finished walk-out basement is primarily configured as one rental space. With its established tenant base, multiple potential uses, excellent downtown location, waterfront setting and distinctive character, 15359 Cabot Trail offers an exciting opportunity for an investor, entrepreneur or owner-occupier looking to make their mark in Chéticamp. A property with income, character and possibilities, right where the action is. (id:66811)

Financial sandbox

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Estimate
Purchase price$650K
Down payment30% · $195K
Interest rate6.25%
Amortization25 years
Occupancy85%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$34K

Annual cash flow

$-2K

Cash-on-cash

-1.21%

DSCR

0.93

Going-in cap

5.18%

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

55,945

Households

21,237

Median income

$124,000

Median age

36.7

Daytime population

49,284

5-yr growth

1.1%

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

Secure deal room

Confidential diligence documents for 15359 Cabot Trail, Chéticamp.

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.