259 Cedar Dr

FOR SALE
$1,189,000
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
X9398137
MLSID
Contact Us
Property Description
Amazing investment opportunity in the popular Turkey Point awaits you. This fantastic turn-key property allows you to live and 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 and offers 12 parking spots for cars. The restaurant itself spans approximately 1,080 square feet of business space. Every aspect of this establishment has been replaced, including a new hood system (2022), stainless steel tables (2022), metal roof (2022), fire suppression system and much more. On the west side of the property, you'll find a charming 4-bedroom, 2-storey residential home. Recent updates have been made, such as new flooring, kitchen, interior/exterior doors, appliances, and 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. *REG TM. RSA.
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-03-25 2024-10-15 204 $1,289,000 - Terminated
2024-01-02 2024-03-25 83 $1,350,000 - Terminated
Property Features
Beach, Campground, Fenced Yard, Lake/Pond
Property Details
Street
Community
Property Type
Detached, 2-Storey
Approximate Sq.Ft.
2000-2500
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 $1,189,000, which is $509,000 (74.9%) higher than the average sold price of $680,000 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 4 bedroom home in Norfolk declined by $85,000 (11.1%) compared to the previous 30 day period (September 21 - October 20) and down $1,170,000 (63.2%) from the same time one year ago.
Inventory Change
There were 3 4-bedroom homes listed in Norfolk over the last 30 days (October 21 - November 19), which is down 57.1% compared with the previous 30 day period (September 21 - October 20) and down 62.5% compared with the same period last year.
Sold Price Above/Below Asking ($)
4-bedroom homes in Norfolk typically sold ($26,266) (3.9%) below asking price over the last 30 days (October 21 - November 19), which represents a $12,431 increase compared to the previous 30 day period (September 21 - October 20) and ($49,999) 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 (October 21 - November 19) stood at 100.0%, up from 57.1% over the previous 30 days (September 21 - October 20) and up from 12.5% 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 61 days when successfully sold over the last 30 days (October 21 - November 19), compared to 84 days before being removed from the market upon being suspended or terminated.
Listing contracted with Re/Max Escarpment Golfi Realty Inc.
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