304-306 George Street North, Peterborough | Image 1

304-306 George Street North

Peterborough, Downtown

  • Commercial

$2,200,000
For Sale

Added 3 months ago

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  • Type: Investment

  • Property Type: Commercial

  • Zoning: cr

  • Age: No Data

  • Taxes: 29425

  • MLS®#: X8380502

  • Days on Site: 29 Days

  • Added: May 28, 2024 (3 months ago)

  • Updated:

  • Last Checked: 46 minutes ago

  • Listed By: COMMERCIAL FOCUS REALTY INC.

Price reduce to SELL. Main Street downtown Peterborough. 3 storey building concrete which includes 8 designated spaces inside which include two fast food restaurants, tattoo parlour, martial arts center and 3 vacant spaces. Owner has approval from the City to covert the vacant spaces into 21 student resident or short term rentals. These rooms will share common spaces like kitchen, living room and bathrooms. Great street exposure. NOI includes rents for the 21 rooms. Develop or lease out and stabilize existing vacant space. Stabilized CAP almost 8%!!!!!!

Extras

Price excludes cost to construct the 21 rooms. Seller will be a VTB 2nd for 12-18 months to qualified buyers.

Property

  • Status: Sale

  • Property Type: Investment

  • Property Type: Retail

  • Net Income: 209418

  • Area: Peterborough

  • Community: Downtown

Inside

  • Air Conditioning: Y

Utilities

  • Utilities: Yes

Building

  • Basement: N

  • Heat Type: Gas Forced Air Closd

  • Energy Certificate: N

  • Green Verification Status: N

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: Street

Fees

  • Tax Year: 2023

  • Taxes: $29,425

  • Expenses: Act

  • Operating Fees: 88252

  • Taxes Type: Annual

  • Tax Year: 2023

Land

  • Cross Street: George and Charolett

  • Municipality District: Peterborough

  • Parcel Number: 281370046

  • Lot Depth: 107.42 Feet

  • Lot Frontage: 64.55 Feet

  • Zoning: cr

Commercial Specific

  • Sprinklers: Part

  • Total Area: 17500

  • Total Area Metric: Sq Ft Divisible

  • Lot Code: Lot

  • Building Percent: 100

  • Vacancy Allowance: 9350

  • Financial Statement: N

  • Gross Income/Sales: 307020

Map of 304-306 George Street North, Peterborough
JK-8

ÉÉC Monseigneur-Jamot

Elementary: Catholic
1.24 km
JK-8

Immaculate Conception Catholic Elementary School

Elementary: Catholic
0.80 km
JK-8

Armour Heights Public School

Elementary: Public
1.57 km
JK-6

King George Public School

Elementary: Public
1.29 km
JK-8

St. John Catholic Elementary School

Elementary: Catholic
2.05 km
JK-8

Prince of Wales Public School

Elementary: Public
1.38 km
9-12

Peterborough Collegiate and Vocational School

Secondary: Public
0.73 km
9-12

Kenner Collegiate and Vocational Institute

Secondary: Public
2.75 km
9-12

Holy Cross Catholic Secondary School

Secondary: Catholic
3.89 km
9-12

Adam Scott Collegiate and Vocational Institute

Secondary: Public
2.73 km
9-12

Thomas A Stewart Secondary School

Secondary: Public
3.20 km
9-12

St. Peter Catholic Secondary School

Secondary: Catholic
2.03 km
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