STEFAN WESER, MCGARR REALTY CORP, BROKERAGE
MLS® #: 30711341

85 Lakeshore Rd

Saint catharines, ON, L2N 2T6
MLS® #: 30711341
STEFAN WESER, MCGARR REALTY CORP, BROKERAGE
For Sale

85 Lakeshore Rd

Saint Catharines, ON, L2N 2T6
$1,850,000
7970 sqft|Business
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85 Lakeshore Rd

Saint catharines, ON, L2N 2T6
STEFAN WESER, MCGARR REALTY CORP, BROKERAGE
MLS® #: 30711341

$1,850,000

7970 sqft|Business

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)

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Details

Property Type: Commercial
Property Tax: N/A
Fees: N/A
Last Updated: Sat, June 08, 2019
Business Type: Other
MLS® #: 30711341
Inside

Heating: Baseboard heaters, Forced air
Heating Source: N/A
Rooms: N/A
Cooling: Central air conditioning, Air Conditioned
Outside

Parking Spaces: 24
Parking: No Garage
Garage: Yes
Garage Spaces: 24

About the Neighbourhood

Lakeshore

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.
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