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$ 16,400,000

259 St. Paul Street, St Catharines, ON, L2R 3M7

Listing ID# 30588465
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$ 16,400,000

  • 259 St. Paul Street
    St Catharines, ON L2R 3M7
  • Listing ID 30588465
  • Building type: Commercial
  • Land size: 0.30 acres
  • Living space: 73000 sq ft
  • Status: For Sale/Active
  • Garage Type: None
  • Heating: Heat Pump
  • Occupancy: Tenant

Property Description

BEAUTIFUL 75 BRAND NEW UNIT APARTMENT BUILDING PLUS 5 BRAND NEW RESTAURANTS. 73,000 SQUARE FEET, 6 STOREY, CONCRETE STRUCTURE, SOLID BRICK, POTENTIAL TO ADD SEVEN FLOORS (70 UNITS). FULL 9 FOOT HIGH BASEMENT (13,000 SQUARE FEET). ALL NEWER APARTMENTS, NEW ELECTRICAL, PLUMBING, HVAC, INDIVIDUAL HEAT PUMPS, WINDOWS, KITCHENS, BATHROOMS, CERAMIC FLOORS. INSTITUTIONAL GRADE INVESTMENT PROPERTY SHOWS A GUARANTEED 5 % CAP RATE, 8.33% RETURN ON INVESTED CAPITAL AND A 12.66% INTERNAL RATE OF RETURN. A PRIME INVESTMENT IN THE HEART OF THE ENTERTAINMENT DISTRICT DOWNTOWN ST. CATHARINES. EXISTING FINANCING AVAILABLE.




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