$ 499,900
12 St Catharine ST St. Thomas, ON N5P 2V6
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$ 499,900
Est. payment | /mo
6,301 SqFt
$ 499,900
Est. payment | /mo
6,301 SqFt
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Pending
Purchase Type For Sale
Square Footage 6,301 sqft
Price per Sqft $79
MLS Listing ID X9361196
Annual Tax Amount $7,726
Tax Year 2024
Property Description
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.
Location
Province ON
County Elgin
Area Nw
Interior
Cooling No
Exterior
Garage Spaces 11.0
Utilities Available Yes
Parking Type None
Others
Security Features No
Listed by BLUE FOREST REALTY INC.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
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