Introducing 108 Elgin, a gem located in the dynamic mix of residential and industrial zones. This dual-zoned (C7 and RIC) property has been extensively updated, including electrical systems, ceilings, plumbing, walls, flooring, and exterior features. These enhancements render it highly adaptable for various business opportunities. Its prime location ensures easy access to downtown areas and major highways. Currently, it hosts a successful Fish and Chip take-out restaurant, with a tenant in place on a 2-year lease, contributing $2000 monthly. Tenants are responsible for their own utility costs and cover 50% of the property taxes. The property also includes five parking spaces for convenience. A significant aspect of this property is the potential for development; city regulations allow for a two-storey secondary commercial unit of up to 225 square meters on the rear lot. Additionally, there exists the possibility to request a zoning change to residential, offering further development opportunities. (id:47423)
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Detailed Information
Lot
24 x 122 ft
Amenities Nearby
Public Transit
Community Features
High Traffic Area
Listing Contract Date
2024-03-21
Location Description
Clarence St to Elgin St
Ownership Type
Freehold
# of Parking Spaces
3
Property Type
Office
Transaction Type
For sale
Zoning Description
C7, R1C
Building
Basement Type
Partial
Exterior Finish
Stucco
Stories Total
1
Size (Exterior)
269
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Telephone
Available
Land
Total Size
under 1/2 acre
Access Type
Road access
Amenities
Public Transit
Sewer
Municipal sewage system
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