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)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X12013440 |
| Property Type | Multi-family |
| Community Name | Sturgeon Falls |
| Parking Space Total | 12 |
Building
| Age | 100+ Years |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Exterior | 8859 Sqft |
| Size Interior | 8,859 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 65 Ft ,10 In |
| Size Frontage | 134 Ft ,8 In |
| Size Irregular | Bldg=134.67 X 65.87 Ft ; 134.67 Ftx65.87 Ftx 34.31 Ftx65.87 Ft |
| Size Total Text | Bldg=134.67 X 65.87 Ft ; 134.67 Ftx65.87 Ftx 34.31 Ftx65.87 Ft |
| Zoning Description | C1 |
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May 21 2025 09:54:14
Toronto Regional Real Estate Board
Keller Williams Referred Urban Realty
