Located in the heart of downtown St. John’s, 152 Water Street presents a premier redevelopment or investment opportunity, offering both strong current rental income and significant future potential. This 33,290 sq. ft. mixed-use building, with 28,128 sq. ft. currently developed for lease, has historically operated as an entertainment center and is surrounded by commercial buildings, making it well-suited for conversion into office, retail, boutique condominiums, or upscale rental apartments. The property offers ample space for a 30-unit residential conversion, with potential for vertical expansion to maximize stunning ocean views. Situated on a 7,276 sq. ft. lot with prime Water Street frontage, this property is located in one of St. John’s most vibrant commercial corridors, surrounded by shops, restaurants, and major urban revitalization projects, such as the Alt Hotel across the street. While the property offers exceptional redevelopment potential, it is still generating strong rental revenue, making it an attractive option for investors who want to hold and lease while planning for future redevelopment. Whether maintained as a cash-flowing asset, converted into modern office space, or developed into a landmark residential project, this property offers exceptional flexibility and long-term value in Newfoundland’s capital. (id:47421)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Amenities Nearby
Shopping
Listing Contract Date
2025-02-25
Ownership Type
Freehold
Property Type
Business
Transaction Type
For sale
Views
Ocean view
Zoning Description
CDM
Business
Business Type
Other, Other, Retail and Wholesale
Business Subtype
General commercial, Mixed - IC&I, Specialty retail
Building
Constructed Date
1961
Heating Fuel
Electric
Stories Total
4
Type
Other
Land
Total Size
91 x 83 x 91 x 76
Access Type
Year-round access
Amenities
Shopping
Size of Irregular Land
91 x 83 x 91 x 76
Terms of Use
Please review and agree to the following terms of use to access the listing content:
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA;
The information contained on this site is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy;
This website is operated by a brokerage or salesperson who is a member of CREA;
The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
