LOADING

173 King Street West Nipissing, Ontario P2B 1R6

8859 sqft
Forced Air

$759,000

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. (id:61852)

Business

BusinessType Residential
BusinessSubType Apartments

Property Details

MLS® Number X12013440
Property Type Multi-family
Community Name Sturgeon Falls
ParkingSpaceTotal 12

Building

Age 100+ Years
HeatingFuel Natural Gas
HeatingType Forced Air
SizeExterior 8859 Sqft
SizeInterior 8859 Sqft
Type Multi-family
UtilityWater Municipal Water

Land

Acreage No
SizeDepth 65 Ft ,10 In
SizeFrontage 134 Ft ,8 In
SizeIrregular Bldg=134.67 X 65.87 Ft ; 134.67 Ftx65.87 Ftx 34.31 Ftx65.87 Ft
SizeTotalText Bldg=134.67 X 65.87 Ft ; 134.67 Ftx65.87 Ftx 34.31 Ftx65.87 Ft
ZoningDescription C1

https://www.realtor.ca/real-estate/28010576/173-king-street-west-nipissing-sturgeon-falls-sturgeon-falls

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Vlad Petoukhov
Salesperson


Keller Williams Referred Urban Realty
156 Duncan Mill Rd Unit 1
Toronto, Ontario M3B 3N2

Mitra Nobakht-Eivaly
Salesperson


Keller Williams Referred Urban Realty
156 Duncan Mill Rd Unit 1
Toronto, Ontario M3B 3N2

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