Investment Opportunity 209 King St in Sturgeon Falls. This turn-key, well maintained mixed use property features 6 residential apartments and 3 commercial units. 11,500 Total Sqft, parking for 20 cars, located in the commercial hub of the city. 5 of 6 apartments are vacant on closing, new owner can set their rates and choose tenants. Previously operated as an AIRBNB, all furnishings included in this offering. Strong commercial tenant base Pet Valu, 2/4/1 Pizza and La Vie En Couleur. Leases in place, available to qualified buyers. 2 car garage currently owner occupied can be used for additional income. Projected Gross Revenue $222,785. With a potential cap rate of 8.5%. Seller currently in the process of transitioning to long term rentals, current market rents to be applied. (id:47421)
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Listed By
RE/MAX CROWN REALTY (1989) INC, RE/MAX CROWN REALTY (1989) INC.
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Detailed Information
Lot
66 x 264 ft
Amenities Nearby
Schools
Community Features
High Traffic Area
Features
Visual exposure
Listing Contract Date
2024-09-27
Location Description
HWY 17W to Sturgeon Falls, Right onto King Street
Ownership Type
Freehold
Property Type
Office
Transaction Type
For sale
Zoning Description
C1
Building
Basement Type
Partial
Exterior Finish
Brick, Vinyl siding
Fire Protection
Alarm system, Security system
Stories Total
3
Size (Exterior)
11592
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Land
Total Size
0.407 acres
Access Type
Road access
Amenities
Schools
Sewer
Municipal sewage system
Size of Irregular Land
0.407
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