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66 ELGIN STREET W, Cobourg, Ontario, K9A5T4

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For sale, ID#: X13572802
66 ELGIN STREET W
Cobourg Ontario
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$1,099,000

Exceptional investment opportunity in one of Cobourg's established commercial corridors. This fully leased income producing property combines stable cash flow, future development potential and a highly desirable location with exceptional visibility and exposure. With over 5,000sq. ft., this building is home to three established commercial tenants, providing immediate rental income while minimizing vacancy risk. Situated on a high traffic route with 13 municipally allocated parking spaces, the property offers excellent accessibility for tenants and customers alike, a valuable feature that's increasingly difficult to find in Cobourg. Positioned within the LM-14 zoning designation, the property also presents future opportunities for investors. In addition to its existing commercial use, the property includes one residential zoning component and may offer the potential to add/convert a residential unit, subject to approval from the Town of Cobourg, creating an opportunity to further enhance revenue over time. The current owners have made substantial capital improvements throughout their ownership, including a steel roof, multiple ductless heating and cooling systems, renovated commercial spaces, updated kitchens and bathrooms, new flooring, doors, security upgrades, mechanical improvements and more. These investments provide peace of mind while reducing the likelihood of major capital expenditures in the near future. Whether you're expanding an investment portfolio, securing a long term commercial asset or looking for a property with additional upside, 66 Elgin Street West offers a compelling combination of reliable income, quality improvements and future potential in one of Northumberland County's strongest commercial markets. (id:2471)

Representative
Ricardo Melendro
Ricardo MelendroDND-IRP Registered Sales Representative
Royal LePage ProAlliance Realty Brokerage - Trenton
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Property Details
  • Property Address: 66 ELGIN STREET W, Cobourg, Ontario, K9A5T4
  • Community Name: Cobourg
  • Property Type: Retail
  • Zoning Description: LM-14
  • Lot Size: 5100
  • Acreage: 5100 ac
  • Water Type: Municipal water
  • Driveway: Other
  • Maintenance Fee: 0.00
Structure Details
  • Floor Space: 5100 sqft
  • Heating Type: Natural gas, Baseboard heaters, Forced air, Other
  • Cooling: Fully air conditioned
Neighbourhood Information

Listing Offices: RE/MAX Rouge River Realty Ltd.

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66 ELGIN STREET W, Cobourg, Ontario, K9A5T4
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