120-122 SYDNEY Street
Cornwall, ON
5,272 sqft • Investment • 181 days on market
BEAUTIFULLY RENOVATED UNIQUE HISTORIC BRICK BUILDING IN DOWNTOWN LOCATION! Check out this very unique historic building which has been converted to an easy to maintain 5 Plex residential apartment building (5,272 sq.ft. as per MPAC). All renovations were completed with City of Cornwall building permits, inspections and finals approvals. This fully renovated/fully occupied property has an approximate /estimated annual net cash flow of $80,000 (before debt service, depreciation, vacancy & bad debt, management and maintenance). The capitalization rate for this investment property is calculated to be + 7% at the listing price, based on the income and expenses provided by the seller in the listing data. However if an investor builds in additional building expenses based on typical criteria for appraisal valuation or by mortgage lenders the Capitalization rate would be reduced to approximately 6% based on these additional expenses are built into the revised net can flow calculation for this income property (still a fair investor return for this quality of income property). Each apartment is finished with hardwood flooring & beautifully updated contemporary kitchens with granite counters & stainless steel dishwasher + bathrooms. The units are spacious, with 4 two-bedroom and 1 one-bedroom with den. All suites feature a 4-piece bath, in-suite laundry, and extras like central self-controlled AC, individual decks, private paved parking, and stainless steel appliances (included). Each unit has its own services with separate meters + the tenants pay their own utilities. Seller requires SPIS signed & submitted with all offer(s) and 2 full business days irrevocable to review any/all offer(s).
Listing Details
- Taxes (2025)
- $7,316
- Originally Listed
- $1,275,000
- Listed
- February 26, 2026
Price History
Property
- Age
- 100+
- Lot Size
- 67.87 x 108.97 Feet
Location & Legal
- Cross Street
- First Street East
- Zoning
- Central Business District
- Parcel Number
- 601670201
- Possession
- Other
Commercial
- Business Type
- Apts - 2 To 5 Units
- Occupancy
- Tenant
Included
- Inclusions
- 5 fridges, 5 stoves, 5 dishwashers, 5 washers, 5 dryers
- Exclusions
- Nil
- Rental Items
- Nil
Community
Postal area K6H
- Population
- 30,440
- Private dwellings
- 14,112
- Median age
- 46
- Average household size
- 2.2
- Median household income
- $61,200
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Cornwall · last 12 months
- Median sold price
- $405,000
- Homes sold
- 682
- Median days on market
- 31
- Sale-to-list price
- 97.4%
Based on 682 recorded sales of commercial properties in Cornwall over the last 12 months.
Listed by
CAMERON REAL ESTATE BROKERAGE
Location
Commercial figures
- Building area
- 5,272 sq ft
- Price per sq ft
- $222.88
- Annual property tax
- $7,316
- Tax per sq ft
- $1.39
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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