Business For Sale · Retail

210 Water Street, Summerside

210 Water Street, Summerside, PE C1N1B6

Price on request

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Asset Class

Retail

Size

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Building class

B

Zoning

CNC — Neighbourhood Commercial

$ / SF

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Occupancy

100%

Year Built

1990

About this property

This commercial space offers a large, versatile commercial space with direct Water Street frontage, excellent street-level exposure, and a flexible layout suitable for retail, professional, or service-based businesses. The space features updated flooring, neutral finishes, and multiple windows providing plenty of natural light. The main Water Street entrance opens into a large, bright commercial area that would work well as retail space, a showroom, reception/waiting area, or open office. From here, the unit flows into a second spacious open area with access to a large private office, additional work areas, a kitchenette with cabinetry and sink, and an interior hallway. The combination of open and private spaces provides flexibility for businesses requiring both customer-facing and administrative areas. The premises offer three separate access points: a direct Water Street entrance, a side exterior entrance providing convenient access from the parking area, and an interior hallway entrance. Exterior signage is available on a backlit Water Street sign mount, providing additional visibility for the occupying business. The suite has a dedicated heat pump, with heat and electricity included in the monthly rent. Located within a professionally managed, secure building, tenants benefit from 24/7 access and on-call maintenance. Parking options are also available. An excellent opportunity for a retail business, professional practice, service provider, showroom, studio, or larger office operation seeking a highly visible and adaptable commercial space in Summerside. Some photos have been virtually staged to illustrate the property's potential. Measurements are based on older floor plans and are approximate. Buyers are advised to verify all measurements. $2,650 per month HST included. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy100%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$89K

Annual cash flow

$6K

Cash-on-cash

1.31%

DSCR

1.07

Going-in cap

5.94%

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

46,894

Households

16,873

Median income

$127,000

Median age

39.8

Daytime population

54,275

5-yr growth

4.8%

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

Secure deal room

Confidential diligence documents for 210 Water Street, Summerside.

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.