Although houses and commercial properties are being bought and sold, the number of buyers and sellers has dropped and certainly in the case of commercial Properties, the number of listings has dropped. My source of information is MLS listings for Cobourg – previously there was also a listing by the Town’s Economic Development department but that is currently off-line. Looking at the list below, there are few surprises. The Woodlawn is still on the market, the Dutch Oven is still listed although if you ask Lauren she says it’s not for sale. New ones are Hannah’s at five corners (King and William), the A1 Taxi property on Densmore and Dimitri’s restaurant on William. And of course the Cannabis operation is still selling their building and land.
It’s likely that there are other commercial properties for sale that are not listed on MLS but here is what is currently listed there.
Commercial Properties for Sale
|$19,900,000||520 William St||FSD Pharma Building and Land – more here|
|$8,500,000||Densmore Road||Vacant land 6.27 Acres on Densmore Road adjacent to Extendicare. Includes development approval for 112 residential units|
|$2,550,000||420 Division Street||Woodlawn – Land, Building & All Chattels and Fixtures.|
|$2,500,000||164 Division Street||Luxury home plus Ice Cream Business|
|$1,750,000||240 King St W||Hannah’s Used Car Property|
|$1,250,000||23-29 King Street W||Building Housing Brocanier’s and Others|
|$1,150,000||201 Division St||Building housing Craft Food House and The Cobourg Loft|
|$975,000||7 & 9 King Street W||Dutch Oven Building, Business and Apartment|
|$889,000||79 King Street W #8||Royal Spa – Building and Business c/w Condo Residence|
|$49,000||79 Aka 89 King Street W #8||The Royal Spa – Business Only|
|$695,000||125 Densmore Rd||A1 Taxi property – without a licence they are moving|
|$590,000||41 – 47 King St W||See note|
|$450,000||409 Division Street||Building – Office Ground Floor; Apartment 2nd Floor. Was Reg Wards Insurance but that business has moved to 247 Division St.|
|$449,000||609 William St||Dimitri’s – Business Only|
|$230,000||866 Ontario Street||Vacant Lot|
|$160,000||500 Division St.||Chinese Take Out Business – No Frills Plaza|
|$149,900||95 King St W||Matterhorn Restaurant – Business Only, Owner Wants to Retire|
Note: The listing for 41 to 47 King St West is not clear. There seem to be 3 listings for the one building housing the Buy and Sell Business plus two closed stores. It’s believed to be owned by Fung Louie who also owns and lives at the closed Mid Town Restaurant. Apart from the Buy and Sell location, the other two stores look like they are in poor condition. Given the long time on the market, it would appear that the property is overpriced.
Many properties house businesses that have shut down or have a limited operation during this virus crisis so their value would be reduced and therefore hard to sell.
For a report on the latest prices of residential housing see this page.
- Commercial properties Update – 12 December 2019