ON > West Nipissing > Sturgeon Falls
West Nipissing, ON P2B 1R6,173 King ST
West Nipissing, ON P2B 1R6,173 King ST
West Nipissing, ON P2B 1R6,173 King ST
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$759,000
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8,859 SqFt
Active

173 King ST West Nipissing, ON P2B 1R6

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Kenneth Yim

Kenneth Yim

+1(647) 496-2269

UPDATED:

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 8,859 sqft

Price per Sqft $85

Subdivision Sturgeon Falls

MLS Listing ID X12013440

Building Age 100+

Annual Tax Amount $6,412

Tax Year 2024

Property Sub-Type Investment

Property Description

Outstanding investment opportunity in the heart of Sturgeon Falls! This fully tenanted mixed-use property at 173 King St. features 2 commercial units and 6 residential apartments, generating a total of $98,302.08 in annual income with a solid 8.66% ROI.Commercial Units: Unit A Office cleaning company. Lease extended through July 1, 2025. Tenant pays hydro. Rent: $898/mo (with HST), increasing to $920.45/mo after renewal. Unit B Accountants office. All-inclusive 5-year lease from May 2022 to May 2027 with 5% annual increases. Current rent: $957.74/mo (with HST).Residential Units: 1-Bedroom (tenant pays hydro & heat): $741.74 4-Bedroom (all-inclusive): $1,938.00 Bachelor: $785.15 3-Bedroom (tenant pays hydro & heat): $948.71 Basement Apartment: $1,000.00 Bachelor: $922.50Property is fully leased with a mix of all-inclusive and tenant-paid utility arrangements. Excellent tenancy, stable cash flow, and prime location make this an ideal addition to any portfolio.Extras: Some residential units include laundry.

Location

Province ON

County Nipissing

Community Sturgeon Falls

Area Nipissing

Zoning C1

Interior

Cooling No

Exterior

Parking Features None

Utilities Available Available

Building

Lot Description Building

Lited by KELLER WILLIAMS REFERRED URBAN REALTY

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Kenneth Yim

Kenneth Yim

Broker of Record | License ID: 9524831

+1(647) 496-2269

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