18,000 sqft. Office Building & Paid Parking Lots
Location New Brunswick,Canada
Asking Price Range $2.5M - $5.0M
Gross Revenues $251943
Net Profit / Cash Flow $197000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1900
Number of Employees 1 - 3
Inventory 200000
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Training Long Term
Reason for Sale Retiring
Description A prime commercial 18,000 square foot office building, presently 95% occupied with government and Class A commercial tenants, now includes paifd electronic parking lot included in asking price or sold separately, valued well over $1 Million for vacant paid parking lot alone. The building and parking lot are located in very high traffic area downtown Fredericton, NB. The property is zoned commercial and has been used as commercial office and retail space for many years. The current paid parking lot has excellent income as it is fully occupied with a waiting list. Parking lot and building are located in front of the Centennial Building (Government Building - Province of New Brunswick).
Facilities: 18,000 square foot office building with 95 % occupancy on long-term leases and a .5-acre paid parking lot. Brick construction with new section built approx. in 1990. This is a 3 storey building in the older section and a 2 storey attached section in the newly constructed section of the building. Very well maintained and renovated inside and out.
Location Description: Queen Street Fredericton, New Brunswick. Directly across from Centennial Building on King Street and in front of Lord Beaverbrook Hotel on Queen Street. Includes .5 acre fully occupied paid parking lot on King Street with excellent income.
Current and Prior Use: Currently 95% occupied office space with government and class A tenants. Prior use was retail/office.
Year of Construction: 1854.
Building Square Feet: 18,000.
Financial Information:
Asking: $2,900,000.
Income Property Gross Income: $251,943.
Income Property Net Operating Income: $197,466 (approx.).
Current Property Expenses: Operating Expenses: $54,477 (approx.).
Financing: 10-15% cash down from buyer.
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