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Est. payment /mo
New
1009 Algonquin AVE North Bay, ON P1B 4X9
5 Baths
4,015 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 4,015 sqft
Subdivision West End
MLS Listing ID X13707952
Annual Tax Amount $10,169
Tax Year 2025
Property Sub-Type Investment
Property Description
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a one-year lease and the other on a two-year lease. Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartment. All three will be vacant by August 30, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses of approximately $16,000 to $18,000 per year. At the asking price, the estimated cap rate is approximately 13.6%.If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look.
Location
Province ON
County Nipissing
Area Nipissing
Zoning C4
Interior
Cooling No
Inclusions Fridge(X3), Stove (X3) everything AS-IS
Exterior
Community Features Major Highway, Public Transit
Utilities Available Yes
Lot Frontage 34.0
Lot Depth 100.0
Others
Security Features No
ParcelsYN No
Listed by Revel Realty Inc. Brokerage