ON
St. Catharines
L2R3E8
255 CHURCH Street
255 CHURCH Street, St. Catharines, ON L2R3E8
Listing Type
commercial/industrial
Listing Status
active
10
$699,000

Home Details for 255 CHURCH Street

Price
$699,000
Type
Office
Bedrooms
0
Bathrooms
0.0
Square feet
3750
Lot size acres
under 1/2 acre
Parking
Basement
Full
Days on site
114
Listing #
40604046_27050713
Listing courtesy: ROYAL LEPAGE NRC REALTY
Property Description

Welcome to 255 Church Street! This solid 2-storey brick building is a prime investment opportunity situated in an up-and-coming neighourhood in the vibrant downtown St. Catharines community. The main floor and basement of this commercial gem are currently on a triple net lease with $24,000 annual base rent with a successful business, making it an attractive income-generating property from day one. The tenant pays CAM charges for commercial taxes, water, commercial insurance, commercial gas, and cleaning. The large basement adds to the property's potential, offering ample storage or expansion opportunities for a savvy investor. The second floor is zoned residential with 2 bedrooms, living room, a 4-piece bathroom, kitchen, and laundry currently being rented for an annual rental income of $14,928. The total rental income is $38,928 annual, ensuring full tenancy for the entire building. This unique setup provides flexibility for the current tenant or opens up possibilities for a variety of uses. With a solid tenant base, a charming facade, and zoned M1, M3 with endless possibilities for the future, this building presents a fantastic investment opportunity in a neighbourhood on the rise! Updates: Current owner updated front facade, upper windows, interior/exterior paint, front door, interior/exterior lighting, 200amp 3-phase breaker panel, plumbing, and boiler in 2019. Phase 1 environmental has been completed and cleared. Commercial tenant has 1 year left on the lease term. Cap rate is 5.5%. (id:1184)

Property Features
  • Basement
    • Full
  • Fire Place
    • False
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EXIT REALTY TOWN & COUNTRY
8873 Commercial Street, New Minas, NS B4N 3C4
Heather Nauss
Sales Rep.
Office
902 679 1177
Agent
902 690 5618
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