$1,100,000

For sale

641 Nelson Street, Pembroke - Retail for Sale

641 Nelson Street, Pembroke, Ontario, K8A3P3

213 × 161 ft (34,280 sq ft) lot sizeListed 92 days ago

Overview

This retail property in Pembroke is for sale. It has been on the market 92 days, fresher than the Pembroke average of 122 days.

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Description

Great Cap rate offering.....Well known throughout the Pembroke area, the Talk of the Town property presents a unique opportunity to acquire a highly functional commercial asset with immediate operational value and exceptional long-term redevelopment potential. The property offers flexibility for a wide range of commercial uses. Continue operating as an car wash facility, reposition the building for another commercial operation, or explore redevelopment opportunities, subject to municipal approvals. Numerous recent improvements- updated pavement, wall panels throughout the wash bays, serviced mechanical systems. Ideal For investors, entrepreneurs, or owner-operators seeking a recognizable commercial property with strong future upside, this offering represents an exceptional opportunity in the growing Pembroke market. (id:66096)

Property Details

MLS®: X13636502
Property Type: Retail
Business Type: Automobile
Zoning: C3 - Central Commercial Zone
Lot Size: 213 × 161 ft (34,280 sq ft)
Frontage: 213 ft
Heating: Hot Water
Cooling: None
Property Tax: $7,910.45/yr
Listed: 92 days ago

Market Timing

Days on market

92d

Pembroke listings, avg age

122d

List price

$1.10M

Homes here sell close to asking price

Homes in this market sold for an average of 97.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This retail in Pembroke has been listed for 92 days, which is 30 days fresher than the city average of 122. Act while there is still low competition.

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Listed by SYNERCAPITAL INVESTMENT REALTY · Kwesi L. Bourne

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K8A)

This home lists at $1,100,000, about 14.7× the local median household income of $75,000.

Carrying it typically needs a household income of about $214,869 (20% down, 25-yr amortization, stress-tested) — roughly 186% above the area median.

Median household income: $75,000
Population: 26,392
Median age: 45.6
Owner / renter: 70% / 30%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA K8A)

$1,100,000

For sale

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Financing

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