Caddie Street, Hanwell, New Brunswick
This Caddie Street property is a modern, fully occupied commercial investment property located in Hanwell, just minutes from Fredericton.
Constructed in 2020, the building measures approximately 60' × 110', providing approximately 6,600 square feet of commercial space. The property is currently 100% occupied by three commercial tenants, providing diversified and established rental income.
Recent Improvements
The property has been exceptionally well maintained, with approximately $70,000 recently invested in paving and landscaping.
These improvements have significantly enhanced both the functionality and overall appearance of the property, providing extensive paved parking and access areas along with professionally completed landscaping.
With the building being relatively new and the recent exterior improvements completed, the property is in excellent overall condition with limited anticipated near-term capital requirements.
Tenant & Lease Information
Tenant 1
Approximately 3,000 sq. ft. – 50' × 60'
Monthly Rent: $4,000
Annual Rent: $48,000
Five-year lease in place
Tenant 2
Approximately 1,800 sq. ft. – 30' × 60'
Monthly Rent: $2,250
Annual Rent: $27,000
One-year lease in place
Tenant 3
Approximately 1,800 sq. ft. – 30' × 60'
Monthly Rent: $2,250 Annual Rent: $27,000
One-year lease in place
Total Rental Income
$8,500 per month / $102,000 annually
Estimated Annual Operating Expenses
Expense Annual
Property Taxes $14,000
Insurance $5,000
Snow Removal $3,500
Lawn Care $1,000
General Repairs & Maintenance $5,000
Total Estimated Expenses $28,500
Estimated Net Operating Income
Gross Rental Income: $102,000
Estimated Operating Expenses: $28,500
Estimated NOI: $73,500 annually
Additional Land
The property also includes approximately 0.7 acre of additional vacant land, providing flexibility for future use or development.
This additional land was previously a separate parcel and has since been incorporated into the same PID as the developed property. There may be an opportunity to subdivide this portion into a separate parcel again, subject to applicable approvals, zoning, access and servicing requirements.
Property Highlights
Approximately 6,600 sq. ft.
Constructed in 2020
100% occupied
Three commercial tenants
Largest tenant secured under a five-year lease
$102,000 annual gross rental income
Approximately $73,500 estimated NOI
Approximately $70,000 recently invested in paving and landscaping
Extensive paved parking and access
Professionally landscaped
Excellent overall condition
Additional approximately 0.7 acre of vacant land
Potential future development or subdivision opportunity, subject to applicable approvals
This Caddie Street property represents an opportunity to acquire a modern, fully occupied income-producing commercial property with established cash flow, recent capital improvements and additional land offering potential future upside.
