New Listing
$186.40 Per Sq Foot $3,752 est/mo Sourced by Back At You

255 Church Street,St. Catharines, ON L2R 3E8

St. Catharines ON, L2R 3E8

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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%.

Details

MLS#40604046
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Listing Provided ByROYAL LEPAGE NRC REALTY | Natalie Keshavarznia

Features

SQ Feet3,750
BasementY
Story(s)2
ZoningM1, M3
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: In 45487 days
ProvinceON
CountyNiagara
CitySt. Catharines
Postal CodeL2R 3E8
AreaSt. Catharines
Subarea450 E. Chester
Community Name450 E. Chester
Listing VS Median (in 450 E. Chester)
Price:
$699,000
low | high
Med:
$474,900
82.06008583691% of Average
SqFt:
3,750
low | high
Med:
1,175
100% of Average
$ / SqFt:
$186
low | high
Med:
$404
66.829513286458% of Average
On Site:
-45458
low | high
Med:
39.000000
100% of Average
Sourced by Back At You
Listing Updated: June 17, 2024 at 11:38:16 AM PDT