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2-4 Riverside 2,032 SF 100% Leased Retail Building Morpeth NE65 9EA $774,404 CAD ($381.10 CAD/SF) 7.21% Cap Rate
Investment Highlights
- Located in a highly desirable Northumberland location
- The property occupies a very prominent position on the corner of Main Street and Riverside
- Attractive stone building overlooking the River Coquet in picturesque village
Executive Summary
The ground floor features the main coffee shop retail area, bakery, two dedicated kitchen areas, and customer seating. The first floor provides additional seating, a secondary kitchen, and public WCs. The second floor comprises office accommodation and storage space. There is access to the basement via the ground floor coffee shop through a
shared corridor, with additional independent access fronting Main Street.
Externally, the property benefits from a small front garden area utilised for additional outdoor seating. We estimate the current configuration provides a seating capacity of approximately 40 to 50 covers.
shared corridor, with additional independent access fronting Main Street.
Externally, the property benefits from a small front garden area utilised for additional outdoor seating. We estimate the current configuration provides a seating capacity of approximately 40 to 50 covers.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
2,032 SF
Building Class
C
Year Built
1900
Price
$774,404 CAD
Price Per SF
$381.10 CAD
Cap Rate
7.21%
NOI
$55,832 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
1.22
Lot Size
0.04 AC
Frontage
61’ on Riverside
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2-4 Riverside
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