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MLS® X14110610
Cobourg, ON
$99,600 ANNUAL GROSS INCOME. APPROX. 6% CAP RATE. 4 INCOME STREAMS! An established, fully occupied mixed-use Commercial Residential FREEHOLD Brick Multi Unit in the heart of historic Downtown Cobourg. An attractive 4,390 sq. ft. brick building combining a prominent King Street retail storefront with 3 residential apartments, offering diversified income, immediate cash flow & manageable ownership. Approx. $78,719 annual Net Operating Income represents a 6.06% CAP RATE at the $1,299,000 asking price, based on supplied expenses, excluding vacancy, management & capital reserves. The commercial tenant pays $3,000/month base rent PLUS $700/month TMI, with a 3-year lease commencing March 2025. The bright 1,161 sq. ft. storefront offers excellent visibility, large display windows, high ceilings & flexible retail space, PLUS approx. 1,161 sq. ft. lower level with office, storage, laundry hookups, 2-pc bath & walkout access. Three residential apartments occupy the upper floors, with independent access & separate hydro meters. Current residential rents total $4,600/month, with month-to-month tenancies. Tenants pay their own electricity. Significant improvements include a 2016 membrane roof, 2016 residential furnace, 2018 hot water tank & 2024 fire retrofit. Two furnaces, separate hot water systems, multiple entrances & 3 rear parking spaces add functionality. Potential rear patio with plans available, subject to approvals. PRIME DOWNTOWN LOCATION steps to Victoria Hall, shops, restaurants, VIA Rail, Marina, Beach & Lake Ontario waterfront. Approx. 100 km east of Toronto. A STABILIZED INCOME PROPERTY OFFERING ESTABLISHED TENANCIES, DIVERSIFIED REVENUE & LONG-TERM OWNERSHIP VALUE IN A DESIRABLE WATERFRONT COMMUNITY.
Inclusions
Central A/C, Forced Air Gas Furnace. Hot Water Tank. Plumbing for hair wash stations from former Salon are still roughed-in but capped. Retail space updated/painted.
Broker
Century 21 United Realty Inc.
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Investment
39 King Street W Cobourg
Cobourg
Built
100+
Type
Investment
Parking
None
Property Tax
~$8,916/yr
Heating
Gas Forced Air Closed
Buying Essentials
Square Feet
4390 sqft
Parking
None
Finances
List Price
$1,299,000
Price per SQFT
$296/sqft
Property Tax
~$8,916/yr
Property Specs
Property Type
Investment
MLS Size
4390 sqft
Age of Building
100+
Living & Amenities
Heating Type
Gas Forced Air Closed
Policies & Utilities
Neighbourhood
Cobourg
Listed On
Oct 23, 2026
Days on Market
Current: 16 days
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