Unique investment opportunity in the Downtown Core of St Thomas. Both properties are exclusively being sold together, one price for both! A VACANT 6300 Sq Ft building and a 41ft by 109ft rear lot (currently being rented as a parking lot). Both lots are under the same C2 zoning allowing for full commercial, full residential or mixed use. Architectural plans to convert the entire building into 11 residential units is included in the listing documents. After development, this would be an excellent candidate for refinancing under CMHC with a strong cashflow and no rent control (for new units). The rear lot would also provide sufficient parking for all units or can be redeveloped. Property is serviced by municipal water & sewers, natural gas and hydro. Building includes 6 breakers, 6 hydro meter bases, 3 gas meters, 3 furnaces and 8 existing points of entry. Excellent visibility in a family-friendly neighbourhood within steps to City Hall, Public Library, Westlake Evans Park, YMCA daycare, retail stores, restaurants, bars and public transit. (id:47421)
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Detailed Information
Lot
32 x 0 ft
Farm Type
Other
Listing Contract Date
2024-09-20
Location Description
St Catharine St and Talbot St
# of Parking Spaces
11
Property Type
Retail
Transaction Type
For sale
Zoning Description
C2
Building
Heating Fuel
Natural gas
Heating Type
Forced air
Size (Exterior)
6301 square feet
Utility Water
Municipal water
Land
Total Size
Bldg=32 FT ; Front lot 32'xIrreg. Rear lot 41'x109'
Size of Irregular Land
Bldg=32 FT ; Front lot 32'xIrreg. Rear lot 41'x109'
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