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
Est. payment /mo
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Key Details

Property Type Single Family Home

Sub Type Other

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 +

Subdivision Sturgeon Falls

MLS Listing ID X12011514

Style 3-Storey

Building Age 100+

Annual Tax Amount $6,412

Tax Year 2024

Property Sub-Type Other

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

Rooms

Basement Apartment

Kitchen 0

Interior

Interior Features None

Cooling None

Fireplace No

Heat Source Gas

Exterior

Parking Features Available

Pool None

Roof Type Asphalt Shingle

Total Parking Spaces 12

Building

Unit Features Lake/Pond,Park

Foundation Concrete Block


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Listed by KELLER WILLIAMS REFERRED URBAN REALTY

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agent

John Cornwell

+1(647) 527-5873

REALTOR®

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