39 King Street W,Cobourg, ON K9A2M1
Cobourg, ON K9A2M1
Description
$99,600 ANNUAL GROSS INCOME. APPROX. 6% CAP RATE. 4 INCOME STREAMS! An established, fully occupied mixed-use Commercial Residential FREEHOLD Brick Multi Unit in the heart of historic Downtown Cobourg. An attractive 4,390 sq. ft. brick building combining a prominent King Street retail storefront with 3 residential apartments, offering diversified income, immediate cash flow & manageable ownership. Approx. $78,719 annual Net Operating Income represents a 6.06% CAP RATE at the $1,299,000 asking price, based on supplied expenses, excluding vacancy, management & capital reserves. The commercial tenant pays $3,000/month base rent PLUS $700/month TMI, with a 3-year lease commencing March 2025. The bright 1,161 sq. ft. storefront offers excellent visibility, large display windows, high ceilings & flexible retail space, PLUS approx. 1,161 sq. ft. lower level with office, storage, laundry hookups, 2-pc bath & walkout access. Three residential apartments occupy the upper floors, with independent access & separate hydro meters. Current residential rents total $4,600/month, with month-to-month tenancies. Tenants pay their own electricity. Significant improvements include a 2016 membrane roof, 2016 residential furnace, 2018 hot water tank & 2024 fire retrofit. Two furnaces, separate hot water systems, multiple entrances & 3 rear parking spaces add functionality. Potential rear patio with plans available, subject to approvals. PRIME DOWNTOWN LOCATION steps to Victoria Hall, shops, restaurants, VIA Rail, Marina, Beach & Lake Ontario waterfront. Approx. 100 km east of Toronto. A STABILIZED INCOME PROPERTY OFFERING ESTABLISHED TENANCIES, DIVERSIFIED REVENUE & LONG-TERM OWNERSHIP VALUE IN A DESIRABLE WATERFRONT COMMUNITY. (id:13843)
Details
| MLS # | X14110610 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 11 |
| Listing Provided By | Century 21 United Realty Inc. | Denise Liboiron |
Features
| Bath(s) | 5 Total |
|---|---|
| SQ Feet | 4,390 |
| Zoning | MC |
Interior
| Cooling | Fully air conditioned |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Water Heater |
| Fireplace Yes / No | No |
Parking
| Parking Total | 3 |
|---|
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 8916 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Cobourg |
| Postal Code | K9A2M1 |
| Listing VS Median (in K9A2M1) | |
Price: $1,299,000 low | high Med: $479,900 sqft: 4,390 low | high Med: 1,200 $ / sqft: $296 low | high Med: $400 On site: 11 low | high Med: 27 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Cobourg |
| Postal Code | K9A2M1 |
| Listing VS Median (in K9A2M1) | |
Price: $1,299,000 low | high Med: $479,900 sqft: 4,390 low | high Med: 1,200 $ / sqft: $296 low | high Med: $400 On site: 11 low | high Med: 27 | |
 | $1,599,900138 Bagot StreetCobourg, ON K9A3G1 |
