1009 Algonquin Avenue, North Bay (West End) - Business for Sale
1009 Algonquin Avenue, North Bay (West End), Ontario, P1B4X9
This business in North Bay is for sale offering roughly 4,015 sq ft of space.
Description
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a one-year lease and the other on a two-year lease. Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartment. All three will be vacant by August 30, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses (excluding mortgage) of approximately $16,000 to $18,000 per year. If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look. (id:66096)
Property Details
- MLS®
- X13707952
- Property Type
- Business
- Zoning
- C4
- Bathrooms
- 5
- Parking
- 4
- Interior Size
- 4,015 ft²
- Lot Size
- 4,015 sq ft
- Frontage
- 34 ft
- Building Area
- 4,015 ft²
- Heating
- Hot water radiator heat, Baseboard heaters, Natural gas
- Cooling
- None
- Property Tax
- $10,169/yr
- Listed
- 72 days ago
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Long Listed: 72 days on market, against an average age of 41 days across the listings currently for sale in this city
Homes here sell faster than most markets
Sold homes in this market spent an average of 27 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell close to asking price
Homes in this market sold for an average of 98.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
This business in North Bay (West End) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (P1B)
This home lists at $424,999, about 6.4× the local median household income of $66,000.
Carrying it typically needs a household income of about $83,017 (20% down, 25-yr amortization, stress-tested) — roughly 26% above the area median.
- Median household income
- $66,000
- Population
- 33,113
- Median age
- 44.4
- Owner / renter
- 57% / 43%
- Avg. household size
- 2.1
Source: Statistics Canada, 2021 Census (FSA P1B)
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$424,999
North Bay