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.
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Freestanding
Y
Lot
32 x 0 ft
Lot Irregularities
Front lot 32'xIrreg. Rear lot 41'x109'
Retail Area
5,550 ft2
Total Area
6,301 ft2
Air Conditioning
N
Garage Type
None
Parking Spaces
11
Heat Type
Gas Forced Air Closd
Sprinklers
N
Utilities
Y
Water
Municipal
Lot/Bldg/Unit Code
Building
Zoning
C2
Seller Property Info Statement
N
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