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Hamilton,ON L8N 1C7
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 17,800 sqft
Price per Sqft $261
Subdivision Landsdale
MLS Listing ID X12098251
Annual Tax Amount $60,972
Tax Year 2024
Property Sub-Type Commercial Retail
Property Description
This exceptional investment is listed at over a 6% cap rate based on in-place cash flow with five commercial units vacant: imagine the upside! There are so many ways to optimize this property for a stronger NOI. With over 142' of frontage on the future LRT route and a large 26-car parking lot behind it, this property occupies the majority of the city block, making it a strong future development opportunity as well. Extensively renovated, this property benefits from major facade updates including all-new retail glass, newer windows, roof, and high-efficiency boilers. The rear fire metal fire escape has also just been rebuilt at substantial cost. The existing residential units are all 2-bedroom units and one 3-bed unit. With high ceilings, large windows, updated kitchens and bathrooms, on-site parking, and generous floor plans, these huge apartments are very appealing to tenants. The commercial units are all around 1000 sq ft and benefit from soaring ceilings, basements, and roll-out access to the rear parking lot. Seller has a recent clean Phase I Environmental Study on-hand! This property has been priced to sell - the opportunity for a capable buyer is truly compelling.
Location
Province ON
County Hamilton
Community Landsdale
Area Hamilton
Interior
Heating Yes
Cooling Partial
Exterior
Community Features Public Transit
Utilities Available Yes
Lot Frontage 143.0
Lot Depth 125.0
Others
Security Features No