173 King ST Active Save Request In-Person Tour Request Virtual Tour
West Nipissing,ON P2B 1R6
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 8,859 sqft
Price per Sqft $85
Subdivision Sturgeon Falls
MLS Listing ID X12013440
Building Age 100+
Annual Tax Amount $6,412
Tax Year 2024
Property Sub-Type Investment
Property Description
Outstanding investment opportunity in the heart of Sturgeon Falls! This fully tenanted mixed-use property at 173 King St. features 2 commercial units and 6 residential apartments, generating a total of $98,302.08 in annual income with a solid 8.66% ROI.Commercial Units: Unit A Office cleaning company. Lease extended through July 1, 2025. Tenant pays hydro. Rent: $898/mo (with HST), increasing to $920.45/mo after renewal. Unit B Accountants office. All-inclusive 5-year lease from May 2022 to May 2027 with 5% annual increases. Current rent: $957.74/mo (with HST).Residential Units: 1-Bedroom (tenant pays hydro & heat): $741.74 4-Bedroom (all-inclusive): $1,938.00 Bachelor: $785.15 3-Bedroom (tenant pays hydro & heat): $948.71 Basement Apartment: $1,000.00 Bachelor: $922.50Property is fully leased with a mix of all-inclusive and tenant-paid utility arrangements. Excellent tenancy, stable cash flow, and prime location make this an ideal addition to any portfolio.Extras: Some residential units include laundry.
Location
Province ON
County Nipissing
Community Sturgeon Falls
Area Nipissing
Interior
Cooling No
Exterior
Utilities Available Available
Lot Frontage 134.67
Lot Depth 65.87
Others
Security Features No