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$699,000
Available - For Sale
Listing ID: X8448136
Welcome to 255 Church Street! This solid 2-storey brick building is a prime investment opportunity situated in an up-and-coming neighourhood in the vibrant downtown St. Catharines community. The main floor and basement of this commercial gem are currently on a triple net lease with $24,000 annual base rent with a successful business, making it an attractive income-generating property from day one. The tenant pays CAM charges for commercial taxes, water, commercial insurance, commercial gas, and cleaning. The large basement adds to the property's potential, offering ample storage or expansion opportunities for a savvy investor. The second floor is zoned residential with 2 bedrooms, living room, a 4-piece bathroom, kitchen, and laundry currently being rented for an annual rental income of $14,928. The total rental income is $38,928 annual, ensuring full tenancy for the entire building. This unique setup provides flexibility for the current tenant or opens up possibilities for a variety of uses. With a solid tenant base, a charming facade, and zoned M1, M3 with endless possibilities for the future, this building presents a fantastic investment opportunity in a neighbourhood on the rise! Updates: Current owner updated front facade, upper windows, interior/exterior paint, front door, interior/exterior lighting, 200amp 3-phase breaker panel, plumbing, and boiler in 2019. Phase 1 environmental has been completed and cleared. Commercial tenant has 1 year left on the lease term. Cap rate is 5.5%
Price $699,000
Taxes: $6,031.27
Tax Type: Annual
Assessment: $204000
Assessment Year: 2023
Occupancy by: Tenant
Address: 255 Church St , St. Catharines, L2R 3E8, Ontario
Postal Code: L2R 3E8
Province/State: Ontario
Lot Size: 36 x 64 (Feet)
Directions/Cross Streets: Queenston-Church
Zoning: M1, M3
Category: Multi-Use
Building Percentage: Y
Total Area: 3,750
Total Area Code:  Sq Ft
Retail Area: 2500
Retail Area Code: Sq Ft
Area Influences: Major Highway   Public Transit
Approximatly Age: 51-99
Sprinklers: N
Heat Type: Gas Hot Water
Central Air Conditioning: Y
Water: Municipal
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Asking Price: $ Heating: $ /Year  
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This chart is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
ROYAL LEPAGE NRC REALTY

255 Church St , St. Catharines, L2R 3E8, Ontario


 
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At a Glance:
Type: Com - Commercial/Retail
Area: Niagara
Municipality: St. Catharines
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Lot Size: 36.00 x 64.00(Feet)
Approximate Age: 51-99
Tax: $6,031.27
Maintenance Fee: $0
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