$199,900 FOR SALE

Commercial/Retail

114-118 Main Street
St. Lunaire-Griquet, NL A0K 2X0

Welcome to an extraordinary investment opportunity on the GNP. This former 25,000 sq ft school building, situated on nearly 4 acres of land, offers immense potential and a range of possibilities. -Solid Structure and Enhancements: Constructed in 1969 with a large wing added in the mid-70s, this building showcases quality craftsmanship. Substantial investments were made, including an apex roof added in 2002 and comprehensive stabilization measures in 2004/2005, ensuring a secure and reliable structure. -Breathtaking Views: The property boasts stunning views of the bay. -Potential for RV Park: The cleared grounds are an ideal opportunity to establish a much-needed RV park. Can take up to 10 RVs. -Versatile Interior: The building features numerous classrooms, a full gymnasium with a stage, and a former community library complete with books. -Accommodation Potential: With modifications, the building could have 15 1-bedroom units or 25 hotel-style rooms. Income potential for short-term rentals projected to yield $175-$225 per night per room or around $900 per month long-term per room. -Established Rentals: The property currently offers 3 short-term rental units,"Bayview Suite" and "Garrigus Room." and a third unit. In addition to a spacious 1 bedroom apartment (that could easily be converted to 2 apts). These units have high demand, with the "Bayview Suite" receiving Booking.com's highest rating. -Proximity to Tourist Attractions: Minutes away from the World Heritage Viking site, the property benefits from a steady stream of tourists, ensuring consistent demand for accommodations throughout the tourist season. -Winter Income Potential: The high demand for student accommodations at nearby CONA can be tapped into, providing a reliable source of revenue during the off-season. -Multiple Entertainment Options: The building offers gaming arena with activities like paintball, airsoft, and Gellyball as well as an axe-throwing room and a party room, catering to all. (id:47423)

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Listed By Keller Williams Platinum Realty
Data Provided By Newfoundland & Labrador Association of REALTORS®
MLS® Listing Number 1275520
Last Updated Jul 30, 2024
Property Summary
Property Type Commercial/Retail

More like this:
Use Mixed - IC&I
Price History
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Detailed Information
Amenities Nearby Recreation, Shopping
Listing Contract Date 2024-07-30
Location Description Largest building in St Lunaire- google RAPPA NL for directions.
Ownership Type Freehold
Property Type Retail
Transaction Type For sale
Views Ocean view, View
Zoning Description COM/RES
Business
Business Type Other, Residential, Service, Arts and Entertainment
Business Subtype Mixed - IC&I, Residential, Miscellaneous services, Entertainment
Building
Amenities Recreation Centre, Exercise Centre, Laundry Facility, Living Accommodation
Constructed Date 1969
Cooling Type Air exchanger
Flooring Type Carpeted, Laminate, Mixed Flooring, Other
Heating Fuel Electric
Heating Type Baseboard heaters, Radiator, Space Heater
Type Commercial Mix
Land
Total Size 3.8 acres
Access Type Rail access, Right-of-way, Year-round access
Amenities Recreation, Shopping
Landscape Features Partially landscaped
Size of Irregular Land 3.8 acres

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