Maximum 4 project can be compared at one go.
$1,200,000
Status: For Sale
TREMENDOUS INVESTMENT OPPORTUNITY: ATTRACTIVE VTB MORTGAGE AT 8% FOR UP TO TWO YEARS WITH 300,000 DOWN PAYMENT. ALSO THE INSURANCE IS ALREADY IN PLACE FOR THE NEW OWNER WITH A QUICK ASSIGNMENT. Potential income:Existing tenant commercial $1,510/mo or $18,120 per year (net rent)New Tenant for restaurant $4,000/mo or $48,000 per year (net rent)New residential tenants (4) $8,000/mo or $96,000 per year (after renovations) grossTOTAL POTENTIAL RENT $13,510/MO OR $162,000 PER YEAR AFTER RENOVATIONSIn the vibrant heart of Downtown St. Catharines, THIS PRIME PROPERTY OFFERS AN EXCEPTIONAL INVESTMENT OPPORTUNITY. It features two commercial units on the ground floor, including a thriving restaurant and bar (estimated value over $200,000) with two upper-level apartments, each unit is equipped with its own gas furnace and separate hydro meters. The property also includes a full basement. 12' Restaurant ceiling, Roof restored, Residential flat roofing – 2010. All municipal services, ensuring convenience for both owners and tenants. While the apartments need updating and conversion costs to return to four units, the property’s strategic location ensures high visibility and accessibility, with parking at the rear for 10 vehicles and the potential to add more apartment units, this mixed-use property is poised for significant value appreciation and long-term profitability. DON’T MISS THE CHANCE TO INVEST IN A CORNERSTONE OF ONE OF NIAGARA’S MOST DYNAMIC MARKETS.
| Property Type | :Commercial Sale |
|---|---|
| MLS Number | :40628343 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :26 Sep, 2024 (40 Days ago) |
| Source | :Niagara |
| Area | :Niagara |
|---|---|
| City | :St. Catharines |
| Area Major | :St. Catharines |
| Area Minor | :451 - Downtown |
| Postal Code | :
L2R 3M9
|
| Directions | :310 St. Paul Street. St. Catharines, Ontario |
| Price | : $1,200,000 |
|---|---|
| Property Taxes | :$12993.3 |
| Tax Year | :2024 |
|---|
| Bedrooms | :0 + |
|---|---|
| Place of Worship | :No |
| Approx Square Footage | :8482.78 sqft |
|---|
| Basement | :Full |
|---|
26 Sep, 2024
TREB #40628343
Listed
$1200000
