259 Cedar Dr

FOR SALE
$1,289,000
259 Cedar Dr, Norfolk
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
259 Cedar Dr
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4
BEDROOMS
2
BATHROOMS
1
KITCHENS
6
ROOMS
X8172422
MLSID
Contact Us
Property Description
Amazing investment opportunity in Turkey Point. This turn-key property allows you to live/work from home, showcasing a well-recognized restaurant called "Kelly's Cove." Situated on the main road, it offers high visibility signage, ensuring maximum exposure/ offers 12 parking spots. The restaurant itself spans approximately 1,080 sqft of business space. Every aspect of this establishment has been replaced, including a new hood system (2022), stainless steel tables (2022), metal roof (2022), & much more. On the west side of the property, you'll find a charming 4-bed, 2-storey residential home. Recent updates have been made, such as new flooring, kitchen, interior/exterior doors, appliances, & windows (2020). Additionally, a septic system was installed in 2020. This property offers immense potential. Whether you choose to reside on the premises and operate the business or prefer to lease the restaurant while keeping the home as a rental property, the possibilities are abundant. RSA
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-01-02 2024-03-25 83 $1,350,000 - Terminated
Property Features
Lake/Pond, Place Of Worship, School
Property Details
Street
Community
Property Type
Detached, 2-Storey
Lot Size
65' x 87'
Acreage
< .50
Fronting
East
Taxes
$3,000 (2023)
Basement
Crawl Space
Exterior
Alum Siding, Vinyl Siding
Heat Type
Forced Air
Heat Source
Propane
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
12
Driveway
Front Yard
Garage Type
Attached
Room Summary
RoomLevelSizeFeatures
DiningGround9.22' x 9.74'
KitchenGround9.15' x 12.14'
FoyerGround9.22' x 7.58'
BrGround11.65' x 13.32'
Br2nd6.40' x 9.42'
Br2nd9.15' x 11.06'
Prim Bdrm2nd19.32' x 9.97'
Norfolk Market Statistics
Norfolk Price Trend
259 Cedar Dr is a 4-bedroom 2-bathroom home listed for sale at $1,289,000, which is $536,875 (71.4%) higher than the average sold price of $752,125 in the last 30 days (March 27 - April 25). During the last 30 days the average sold price for a 4 bedroom home in Norfolk increased by $272,125 (56.7%) compared to the previous 30 day period (February 26 - March 26) and up $234,625 (45.3%) from the same time one year ago.
Inventory Change
There were 6 4-bedroom homes listed in Norfolk over the last 30 days (March 27 - April 25), which is down 0.0% compared with the previous 30 day period (February 26 - March 26) and up 20.0% compared with the same period last year.
Sold Price Above/Below Asking ($)
4-bedroom homes in Norfolk typically sold ($34,049) (4.5%) below asking price over the last 30 days (March 27 - April 25), which represents a $14,149 decrease compared to the previous 30 day period (February 26 - March 26) and ($41,175) more than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 4-bedroom homes in Norfolk over the last 30 days (March 27 - April 25) stood at 133.3%, up from 16.7% over the previous 30 days (February 26 - March 26) and up from 80.0% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 2-bathroom home in Norfolk stood at 58 days when successfully sold over the last 30 days (March 27 - April 25), compared to 133 days before being removed from the market upon being suspended or terminated.
Listing contracted with Re/Max Escarpment Realty Inc.,
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