77-79 Commonwealth Avenue
Mount Pearl, NL, A1N1W7
$3,750,000
About the property (MLS: 1279087):
Excellent opportunity to own a prime commercial property in the heart of Mt. Pearl. The building is anchored by a national retail drug store under a long-term lease. The owners operate a medical practice on the second floor and lease an additional unit to a physiotherapy clinic. Over 230 feet of frontage on Commonwealth Avenue and a large parking lot that can accommodate 60+ vehicles. (id:56688)
Property Details
MLS: 1279087
Listing ID: 27592946
Address: 77-79 Commonwealth Avenue, Mount Pearl, Newfoundland & Labrador, Canada A1N1W7
Status: Active
Last updated: a month ago ( Oct 29, 2024 )
Year Built: 1985
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Number of stories: 2
Number of Levels: 2
Heating: Heat Pump
Living Area Total: 14,780 square feet
Price per sq ft: $254
Tax Annual Amount: $25,329
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Heat Pump
Common Interest: Freehold
Business Type: Other, Retail and Wholesale, Service
Building Features: Air Conditioning
Number of photos available: 14
Rurl
Coordinates: [47.515215, -52.803645]
Listing ID: 27592946
Address: 77-79 Commonwealth Avenue, Mount Pearl, Newfoundland & Labrador, Canada A1N1W7
Status: Active
Last updated: a month ago ( Oct 29, 2024 )
Year Built: 1985
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Number of stories: 2
Number of Levels: 2
Heating: Heat Pump
Living Area Total: 14,780 square feet
Price per sq ft: $254
Tax Annual Amount: $25,329
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Heat Pump
Common Interest: Freehold
Business Type: Other, Retail and Wholesale, Service
Building Features: Air Conditioning
Number of photos available: 14
Rurl
Coordinates: [47.515215, -52.803645]
Rooms
Basic Calculator
First Mortgage: $3,000,000
Mortgage insurance premium: $0
Total Financing: $3,000,000
Rough closing fee (1.5%): ~ $56,250
Total downpayment with estimated closing fee: $806,250
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $16,259 | $195,108 |
| Gross rental income (income/principal ratio) | 0.434% | 5.203% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $4,688 | $56,256 |
| Vacancy | $813 | $9,756 |
| Management Fee | $1,301 | $15,609 |
| Expense / Income Ratio | 28.83% | 28.83% |
| Cash Flow | $9,458 | $113,496 |
| Net Operating Income (NOI) | $9,458 | $113,496 |
| Capitalization Rate | 0.25% | 3.03% |
Capitalization Rate: 3.03%
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).): $5,357,143
