262 Newfoundland Drive
St. John's, NL, A1A3R5
$459,500
About the property (MLS: 1267086):
UNIQUE OPPORTUNITY!! Well-maintained commercial property, ideally located in a high traffic location in the east end of the city! Currently configured as medical offices with a self-contained space in the basement (previously used as a pharmacy), however, various commercial opportunities exist (zoned R1) such as office, dentistry, daycare, etc. Multiple separate rooms, plus 3 bathrooms. Wheelchair accessible from side entrance via lower floor and ample parking available! (id:56688)
Property Details
MLS: 1267086
Listing ID: 26425911
Address: 262 Newfoundland Drive, St. John's, Newfoundland & Labrador, Canada A1A3R5
Status: Active
Last updated: 2 years ago ( May 15, 2024 )
Year Built: 1974
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Living Area Total: 3,481 square feet
Price per sq ft: $133
Tax Annual Amount: $15,618
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Common Interest: Freehold
Business Type: Other, Retail and Wholesale, Service
Number of photos available: 40
Rurl
Coordinates: [47.596002, -52.692186]
Listing ID: 26425911
Address: 262 Newfoundland Drive, St. John's, Newfoundland & Labrador, Canada A1A3R5
Status: Active
Last updated: 2 years ago ( May 15, 2024 )
Year Built: 1974
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Living Area Total: 3,481 square feet
Price per sq ft: $133
Tax Annual Amount: $15,618
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Common Interest: Freehold
Business Type: Other, Retail and Wholesale, Service
Number of photos available: 40
Rurl
Coordinates: [47.596002, -52.692186]
Rooms
Basic Calculator
First Mortgage: $367,600
Mortgage insurance premium: $0
Total Financing: $367,600
Rough closing fee (1.5%): ~ $6,893
Total downpayment with estimated closing fee: $98,793
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,830 | $45,960 |
| Gross rental income (income/principal ratio) | 0.834% | 10.002% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $575 | $6,900 |
| Vacancy | $192 | $2,298 |
| Management Fee | $307 | $3,677 |
| Expense / Income Ratio | 15.01% | 15.01% |
| Cash Flow | $2,758 | $33,096 |
| Net Operating Income (NOI) | $2,758 | $33,096 |
| Capitalization Rate | 0.60% | 7.20% |
Capitalization Rate: 7.20%
After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $656,429
