The Opportunity
Overview
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. (id:61970)
Investment highlights
- 01Multi-family
Property details
- Property type
- Multi-family
- Transaction
- sale
- Listing brokerage
- Century 21 United Realty Inc.
- Listing representative
- Denise Liboiron
- Board / association
- Central Lakes
Financial information
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Location intelligence
Documents
Source Record
Current listing facts, with attribution intact.
- Source
- REALTOR.ca DDF®
- Listing status
- active
- Source ID
- 29194776
- Last supplied
- September 7, 2026
- Listing brokerage
- Century 21 United Realty Inc.
- Listing representative
- Denise Liboiron
- Board / association
- Central Lakes
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Listing brokerage: Century 21 United Realty Inc. · Listing representative: Denise Liboiron · Board/association: Central Lakes · Updated: Sep 7, 2026
Listing content is supplied through REALTOR.ca DDF®. Information is deemed reliable but is not guaranteed and should be independently verified. Commercially is not the listing brokerage unless expressly stated.
