Commercial in St. Catharines
Excellent Commercial Investment Opportunity. This fully leased property, with long-term tenants, is located on the main artery in the North End of St. Catharines. The property surrounding the existing building has the potential to be further developed by adding additional structures with a building height of up to 14 meters. Possibility for land severance, adjacent to Lakeshore Road to built residential development (subject to the City's approval). There are 24 parking spaces available. The building is solid constructed and exceptionally maintained. There are 4 Tenants, plus owner leasing the building. One tenant expressed interest to take over the owners current space, if the new buyer has no need for it. This space includes a 1 bedroom appartment currently used as an art studio. All tenants have signed leases, ranging from 2+ years with yearly rent increases and option to renew. The potential NET income for the 7,970 sqft leased out space is over $90,000.00/per year, plus HST, plus TMI (Taxes, Maintenance, Insurance). There are 6 Washrooms, three powder rooms, two 3-piece and one 4-piece throughout the building. Two A/C units and two furnaces, one 4 zone and one 1 Zone unit. There is a Security System on the main level and hardwired smoke detectors throughout. This is a solid investment with great returns for new Investors entering the commercial real-estate market. (id:153)
About the Neighbourhood
Lakeshore is a great neighbourhood to buy a home in for those who prefer a calm atmosphere. The noise levels in this part of St. Catharines are especially low, as the streets are very peaceful. Lastly, there are a few parks close by for residents to visit, making it easy to reach them.Learn more >
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