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$ 449,999
Est. payment /mo
New
1009 ALGONQUIN AVENUE North Bay (west End), ON P1B4X9
5 Baths
4,015 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 4015
Square Footage 4,015 sqft
Price per Sqft $112
Subdivision West End
MLS® Listing ID X13707952
Lot Size 4015.000 Acres
Acres 4015.0
Property Description
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a one-year lease and the other on a two-year lease. Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartment. All three will be vacant by August 30, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses of approximately $16,000 to $18,000 per year. At the asking price, the estimated cap rate is approximately 13.6%.If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat, Baseboard heaters,
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Listed by Revel Realty Inc. Brokerage