1009 ALGONQUIN AVENUE
North Bay (West End), Ontario
MLS® X14145458
$399,999
- Status
- Active
- Property type
- Business
- MLS® number
- X14145458
- Bedrooms
- —
- Bathrooms
- 5
- Year built
- —
1 / 31Listing description
Investor opportunity in North Bay ! 1009 Algonquin Avenue, A 5-unit mixed-use investment property. (PRE-INSPECTED for your peace of mind) This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside.
The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a month-to-month lease (all in one paint shop) and the other on a two-year lease (Manga Market). Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartments.
All three units are vacant, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses (excluding mortgage) of approximately $16,000 to $18,000 per year.
If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look.
Property summary
- MLS® number
- X14145458
- Property type
- Business
- Leasable Area
- 4,015 sq ft
- Land size
- 4015 acres
- Annual property taxes
- $10,169.00
- Parking
- 4 spaces
- Days on market
- 2 days
Features & details
- Heating
- Hot water radiator heat, Baseboard heaters, Natural gas
- Cooling
- None
What would this home cost you?
Based on the $399,999 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Revel Realty Inc. Brokerage, NORTH BAY.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.