31 King Street E Cobourg, Ontario K9A 1K6

$988,000

AMAZING INVESTEMENT OPPORTUNITY FOR INVESTORS AND END USER!! Ground floor restaurant, could be available for Lease. Excellent investment and lifestyle opportunity in the heart of downtown Cobourg. This solid brick semi-detached building offers a strong mixed-use configuration featuring a fully operating restaurant on the main level and two spacious residential apartments on the second floor each with a view of the lake. The main floor restaurant has been recently upgraded and is well maintained, with a proven history of successful operation. It includes an inviting layout and an outstanding patio area that has become a popular destination for patrons over the years. The second level consists of two large residential apartments, both well proportioned and suited for long-term tenants. The property is fully tenanted, with the restaurant paying approximately $6,250/month including HST, and each residential unit renting for approximately $1,100/month, providing stable and consistent income. Situated in Cobourg's vibrant downtown, the property benefits from steady pedestrian activity, local amenities, and year-round appeal from both tourists and residents. The location is enhanced by its proximity to the waterfront, with the popular marina and Cobourg Beach just a short walk away, drawing significant seasonal and weekend traffic. The building is well maintained throughout and includes a full basement. Existing tenants would be happy to remain, providing a seamless investment transition, or vacant possession can be arranged for an owner-operator. A rare opportunity to acquire a well-performing mixed-use asset in one of Cobourg's most desirable and high-traffic downtown locations. (id:55460)

Property Details

MLS® Number	X13166864
Property Type	Retail
Community Name	Cobourg
Equipment Type	Water Heater
Rental Equipment Type	Water Heater

Building

Cooling Type	Partially Air Conditioned
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Exterior	5457.3 Sqft
Size Interior	5,457 Ft2
Utility Water	Municipal Water

Land

Acreage	No
Size Depth	165 Ft
Size Frontage	33 Ft
Size Irregular	Bldg=33.04 X 165.02 Ft
Size Total Text	Bldg=33.04 X 165.02 Ft
Zoning Description	Mc - Main Central Commercial

https://www.realtor.ca/real-estate/29796937/31-king-street-e-cobourg-cobourg