173 King Street West Nipissing, Ontario P2B 1R6
$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:53661)
Property Details
| MLS® Number | X12011514 |
| Property Type | Single Family |
| Community Name | Sturgeon Falls |
| Amenities Near By | Park |
| Parking Space Total | 12 |
Building
| Age | 100+ Years |
| Basement Features | Apartment In Basement |
| Basement Type | N/a |
| Exterior Finish | Brick |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 3 |
| Size Interior | 5,000 - 100,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Park |
| Sewer | Sanitary Sewer |
| Surface Water | Lake/pond |
Utilities
| Cable | Available |
| Sewer | Available |
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May 21 2025 09:54:12
Toronto Regional Real Estate Board
Keller Williams Referred Urban Realty
