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73 King ST W Cobourg, ON K9A 2M4
12,066 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 12,066 sqft
Subdivision Cobourg
MLS Listing ID X13823170
Annual Tax Amount $37,818
Tax Year 2026
Property Sub-Type Investment
Property 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 six 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)
Location
Province ON
County Northumberland
Area Northumberland
Zoning MC
Interior
Cooling Yes
Exterior
Utilities Available Available
Lot Frontage 73.0
Lot Depth 119.0
Others
Security Features Partial
ParcelsYN No
Listed by CUSHMAN & WAKEFIELD
Nearby Locations