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3612 Sqft Commercial Property in Victoria

$1,349,000 - ML# 417672
581 Niagara St
Victoria - Vi James Bay

This is only a guide. Please verify this information with your mortgage specialist.

A great opportunity to purchase a mixed use building in beautiful James Bay. This building has recently undergone a complete renovation, with new plumbing, electrical, insulation and a new roof in March 2019.The Ground floor space has housed a community grocery store since it was originally built in 1908, making it the oldest grocery store in Victoria. The ground floor commercial space is approximately and occupied by the Niagara Market. The two newly renovated upper suites have separate private entrances and consist of a 2 bed suite and a large 1 bed suite. The suites have restored hardwood flooring and modern kitchens with over height ceilings and ensuite laundry.With the building built directly on 3 lot lines, a large outdoor space has been created which can be used for parking or as an outdoor patio for the commercial tenant. Building generates over $80,000 in revenue and has room for increased lease rates. 4.4% Cap rate *Please do not approach staff. Call to set up viewings.

Title:
Freehold 
Transaction Type:
For Sale 
Includes Building:
Yes 
Includes Business:
No 
Includes Land:
Yes 
Sale/Lease Type:
Sale Price 
Possession:
Upon Completion 
Possession Notes:
 
Taxes:
$11,292.00 (2019) 
Year Built:
 
Additional Rent/SqFt:
 
Existing Lease Expiration Date:
 
Business Name:
 
Business Established:
 
Gross Income:
 
Net Income:
 

Building Details

Building Features:
Awnings 
Building Type:
Mixed Use,Multi-Family,Retail 
Accessibility:
 
Construction Foundation:
 
Exterior Finish:
 
Exterior Features:
 
Cooling:
 
Heat:
 
Approx. Value of Fixed Equip:
 
Parking Spaces:
 
Stories:
 

Lot Information

SqFt:
3612 
Acres:
0.08 
Total SqFt:
3200 
Lot:
 
Lot Shape:
 
Lot Features:
View: City 
Lot Frontage:
 
Water:
City/Munic. 
Waste:
Sewer 
Parking:
 
Location Features:
High Traffic Area,Sidewalk 

Strata Information

Complex:
 
Managed By:
self managed 
Monthly Assessment:
Shared Amenities:
 

Listed with:

Pemberton Holmes - Cloverdale

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NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.