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$3,000,000 Sale
Listed 18 days ago
73 King Street W
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Listing History
Buy/Sell/Terminated/Expired listing history for 73 King Street W
Key Facts
Key facts for 73 King Street W
Property Type
Commercial
Parking
None
MLS #
X13823170
Size
-
Basement
-
Listed on
2026-09-24
Lot size
73 x 119.0
Tax
$37,818 /yr
Days on Market
19
Approximate Age
-
Maintenance Fee
-
Description
The offering presents the opportunity to acquire a 100% freehold interest in 73 King Street West, Cobourg, Ontario (the "Property" or the "Site"). The Property is a three-storey mixed-use building on a corner lot in the heart of Cobourg's heritage downtown, comprising eight residential suites and si...x commercial units - a fully occupied, dual-stream income profile with meaningful residential rent upside. The residential component consists of one-bedroom suites averaging 650 sf, each with in-suite laundry and individually controlled electric forced-air heating and central air conditioning, with tenants responsible for their own hydro. In-place rents average $1,419 per month against a market rent of $1,825, a gap of roughly 29%. The six commercial units total 5,448 sf, are leased to a coffee shop, café, health food store, nail salon, hair salon and comic book shop, carry contractual rent steps, and contribute approximately 40% of total potential gross revenue. The Property is steps from Victoria Hall and a short walk to Cobourg Beach, Victoria Park and the VIA Rail station, in the county seat of Northumberland County approximately 95 km east of Toronto. 73 King Street West Property Specific Details: Land Area: 12,066.33 sf (0.28 acres) PIN: 510930030 Suites: 8 residential (all one-bed) + 6 commercial GLA: Approx. 5,200 sf of residential / 5,448 sf of commercial Parking: 3 spaces Zoning: MC Services: Municipal water and sanitary sewer NOI: $181,047 (stabilized) Asking Price: $3,000,000 (6.0% cap rate)
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Courtesy of: CUSHMAN & WAKEFIELD