$1,200,000 FOR SALE

Business for Sale

Lot: 82.91 x 0 ftTotal Area: 4,203 ft2
2023 Taxes: $10,854

227 Colborne St
Central Elgin, ON N5L 1C2 | Port Stanley | Elgin

This is the opportunity of a lifetime to purchase a landmark building in an incredible downtown location in Port Stanley. The building is located at a stoplight location on a heavily trafficked county roadway. Expect plenty of walk-by traffic as well. 4 commercial units paying rent and a highly in-demand downtown residential apartment. Over 4000 square feet of rentable square footage. Rents are actualized and at market value. $85,800 gross rents with the tenants absorbing a large part of TMI. There is also the opportunity to purchase the Apropos business as well as the building and land. The business is a high reputed, household name in Port Stanley that retails fine clothing and accessories. It comes with significant goodwill. There are plenty of allowable uses for the property under current zoning. Port Stanley is developing quickly ahead of the Volkswagen EV Gigafactory launch. This is a perfect place for a savvy investor to have their money go to work.

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Listed By ROYAL LEPAGE TRILAND REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X8285942
Last Updated May 29, 2024
Property Summary
Property Type Business For Sale

More like this:
Franchise Non-Franchise
Business/Building Name Apropos/Angry Bear/Senor Bones
Category With Property
PIN 352550264
Legal Description LT 4 & PT LT 3 E/S COLBORN ST PL 49 PORT STANLEY DESIGNATED AS PTS 1 & 2 11R6220; CENTRAL ELGIN
Occupancy Own+Ten
Possession Date Flexible
Taxes (2023) $10,854
Assessment (2016) $300,000
Directions/Cross Streets Joseph Street
Neighbourhood Port Stanley
Area Elgin
Price History
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Detailed Information
Lot 82.91 x 0 ft
Retail Area 3,563
Total Area 4,203 ft2
Approximate Age 51-99
Elevator None
Basement Y
Garage Type None
Outside Storage N
Sewers Sewers
Water Municipal
UFFI No
Crane N
Rail N
Zoning B1
Seller Property Info Statement Y

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