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187 Main ST W North Bay, ON P1B 2T6
3,024 SqFt
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 3,024 sqft
Subdivision Central
MLS Listing ID X13885630
Annual Tax Amount $6,517
Tax Year 2026
Property Sub-Type Investment
Property Description
$399,000 | APPROX. 12.34% CAP RATE | FULLY TENANTED | 5 INCOME STREAMSINVESTORS TAKE NOTICE! Fully tenanted, income-producing mixed-use investment property in North Bay offering FIVE established income streams under one roof. Featuring a large commercial space plus FOUR residential apartments, this property provides a diversified combination of commercial and residential rental income with tenants already in place.THE NUMBERS MAKE THIS ONE WORTH A LOOK. Annual gross income of approximately $72,626 with reported operating expenses of approximately $23,403 produces a Net Operating Income (NOI) of approximately $49,223. At the $399,000 asking price, this represents an approximate 12.34% capitalization rate based on reported expenses.Reported expenses include allowances for 3% vacancy and 5% maintenance. Property management and snow removal are not included and will vary depending on the purchaser's operating arrangements.Unlike vacant investment properties requiring a buyer to find tenants before realizing the property's full income potential, this building is FULLY TENANTED with five existing revenue streams. Four residential apartments provide a strong residential component while the commercial space adds an additional source of income and diversification.At $399,000, this is an opportunity for an investor to acquire an established North Bay mixed-use property with income already in place and an attractive return based on the current financial information.Financial information is based on seller-provided figures and stated allowances.The Seller does not represent or warrant the retrofit of the basement
Location
Province ON
County Nipissing
Area Nipissing
Zoning C1
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 20.0
Lot Depth 60.0
Others
Security Features No
ParcelsYN No
Listed by SOVEREIGN REALTY GROUP
NEARBY SCHOOLS & PROPERTIES
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