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Erika Plumb

erika@plumbproperties.ca +1(647) 696-6226

Est. payment | -/mo

5 Baths

4,390 SqFt

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Est. payment | -/mo

Save Virtual Tour

5 Baths

4,390 SqFt

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 4,390 sqft

Subdivision Cobourg

MLS Listing ID X12641452

Annual Tax Amount $8,916

Tax Year 2025

Property Sub-Type Investment

Property Description

FULLY OCCUPIED DOWNTOWN COBOURG INVESTMENT generating $93,600 in annual gross income. This well-maintained 4,390 sq. ft. mixed-use freehold combines a prominent King Street retail storefront with three residential apartments, offering diversified income from four tenancies. Approximate NOI of $71,974 based on supplied operating expenses represents an approximate 5.54% cap rate at the asking price.The main-floor commercial tenant occupies approximately 1,161 sq. ft. plus a similarly sized lower level and is in the second year of a three-year lease commencing March 1, 2025. The bright storefront features large display windows, high ceilings, flexible retail space and roughed-in plumbing for salon or esthetic uses. The walkout lower level provides an office, storage, laundry hookups and a 2-piece bath.Three separately metered apartments occupy approximately 2,054 sq. ft. across the upper floors and have a private entrance independent of the commercial premises. Two residential leases extend to January 31, 2028, while the third tenancy is month-to-month. Tenants pay their own hydro.Investor-friendly improvements include a newer membrane roof and residential furnace, 2024 fire retrofit and separate furnaces. Four entrances, three rear parking spaces and walkout access support convenient tenant operations. Potential also exists for a rear patio or future expansion, subject to approvals. Located in Cobourg's historic downtown near Victoria Hall, shopping, dining, VIA Rail, the marina and Lake Ontario. A stabilized, easily managed asset combining immediate income, established tenancy and long-term downtown value. Turnkey Income. Cap Rate: 5.5% approx. at full list price. A rare chance to acquire a hands-off, stabilized asset in a destination market with strong fundamentals, consistent rental demand, and upside through future growth-all within a manageable drive or train ride from Toronto.

Location

Province ON

County Northumberland

Area Northumberland

Zoning MC

Interior

Cooling Yes

Inclusions Central A/C, Forced Air Gas Furnace. Hot Water Tank. Newer membrane roof on building, Furnace, Fire Retrofit 2024. 3 Parking Spots. Potential for patio. Salon washing stations Roughed-In (capped over). Brick building w/ character in great condition. Income & Expenses & Upgrades list available. Tenant leases for review with accepted offer.

Exterior

Utilities Available Yes

Lot Frontage 22.26

Lot Depth 115.6

Building

Building Age 100+

Others

Security Features No

ParcelsYN No

Virtual Tour https://listings.insideoutmedia.ca/sites/webgbvr/unbranded

Listed by Century 21 United Realty Inc.

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+1(647) 696-6226

erika@plumbproperties.ca

4711 Yonge St 10th floor, Toronto, ON M2N6K8, CAN

39 King ST W Cobourg, ON K9A 2M1

Erika Plumb

Key Details

Location

Interior

Exterior

Building

Others

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