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$ 1,099,000
Est. payment | /mo
5,100 SqFt
$ 1,099,000
Est. payment | /mo
5,100 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5100
Square Footage 5,100 sqft
Price per Sqft $215
Subdivision Cobourg
MLS® Listing ID X13572802
Lot Size 5100.000 Acres
Acres 5100.0
Property Description
Exceptional investment opportunity in one of Cobourg's established commercial corridors. This fully leased income producing property combines stable cash flow, future development potential and a highly desirable location with exceptional visibility and exposure. With over 5,000sq. ft., this building is home to three established commercial tenants, providing immediate rental income while minimizing vacancy risk. Situated on a high traffic route with 13 municipally allocated parking spaces, the property offers excellent accessibility for tenants and customers alike, a valuable feature that's increasingly difficult to find in Cobourg. Positioned within the LM-14 zoning designation, the property also presents future opportunities for investors. In addition to its existing commercial use, the property includes one residential zoning component and may offer the potential to add/convert a residential unit, subject to approval from the Town of Cobourg, creating an opportunity to further enhance revenue over time. The current owners have made substantial capital improvements throughout their ownership, including a steel roof, multiple ductless heating and cooling systems, renovated commercial spaces, updated kitchens and bathrooms, new flooring, doors, security upgrades, mechanical improvements and more. These investments provide peace of mind while reducing the likelihood of major capital expenditures in the near future. Whether you're expanding an investment portfolio, securing a long term commercial asset or looking for a property with additional upside, 66 Elgin Street West offers a compelling combination of reliable income, quality improvements and future potential in one of Northumberland County's strongest commercial markets. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Forced air, Other,
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Others
Virtual Tour https://youtu.be/1d6x4pXkTQI
Listed by RE/MAX Rouge River Realty Ltd.