Added 3 months ago
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Type: Sale Of Business
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Property Type: Commercial
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Zoning: C6
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Age: No Data
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Taxes: 12993.3
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MLS®#: X9413152
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Days on Site: 61 Days
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Added: Sep 16, 2024 (3 months ago)
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Updated:
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Last Checked: 1 hour ago
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Listed By: ROYAL LEPAGE NRC REALTY
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) gross TOTAL POTENTIAL RENT $13,510/MO OR $162,000 PER YEAR AFTER RENOVATIONS In 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
Status: Sale
Property Type: Sale Of Business
Property Type: With Property
Area: St. Catharines
Community: 451 - Downtown
Availability Date: 30-59Days
Assessment Amount: $409,000
Assessment Year: 2024
Building
Basement: Y
Water Supply: Municipal
Fees
Tax Year: 2024
Tax Legal Description: LT 103 CP PL 2 GRANTHAM; ST. CATHARINES
Taxes: $12,993
Land
Cross Street: 310 St. Paul Street.
Municipality District: St. Catharines
Parcel Number: 462180038
Sewer: Sewers
Lot Frontage: 37.5
Zoning: C6
Commercial Specific
Total Area: 8482.78
Total Area Metric: Sq Ft
Area Influence: Public Transit
St Nicholas Catholic Elementary School
Elementary: CatholicEdith Cavell Public School
Elementary: PublicConnaught Public School
Elementary: PublicÉÉC Immaculée-Conception
Elementary: CatholicSt Denis Catholic Elementary School
Elementary: CatholicHarriet Tubman Public School
Elementary: PublicDSBN Academy
Secondary: PublicSt Catharines Collegiate Institute and Vocational School
Secondary: PublicLaura Secord Secondary School
Secondary: PublicEden High School
Secondary: PublicSir Winston Churchill Secondary School
Secondary: PublicDenis Morris Catholic High School
Secondary: Catholic
