$299,000
Little Bay
332 Marine Drive, Little Bay, Newfoundland & Labrador, A0E1N0
This multi-family property in Little Bay is for sale offering roughly 3,499 sq ft of space. It has been on the market 63 days, fresher than the Little Bay average of 70 days.
If you’ve been searching for a property with exceptional versatility and income potential, this approximately 3,000 sq. ft. building offers an opportunity worth exploring. Currently configured with a convenience/fabric store, a former hair salon and an existing residential unit, the building lends itself to a variety of future uses. Please note that the existing business is not included in the sale. The second floor features an approximately 875 sq. ft., 3-bedroom, 1-bathroom residential unit that could provide immediate rental income, with an estimated rental potential of approximately $1,500 per month. On the main floor, a separate area formerly operated as a hair salon provides another opportunity. With some reconfiguration and expansion into adjoining space, this area could potentially be converted into a comfortable 2-bedroom apartment. The large main store area offers even more possibilities and could potentially become a third residential unit. For someone interested in an investment property, the building could potentially be transformed into a three-unit residential property, subject to municipal approvals, zoning and any required permits. Prefer a commercial component? The main level could continue to accommodate a convenience store or potentially another type of business while maintaining residential rental income above. The property also has two separate basement areas, one with a concrete floor and the other with a gravel floor, providing plenty of additional storage and utility space. And then there’s the view! The spectacular surroundings add another dimension to the property and could make future residential units especially appealing. Whether your vision is residential, commercial, income-producing, or a combination of all three, this property provides a unique opportunity to create something that works for you. With an existing residential unit and substantial space available for redevelopment, there are plenty of possibilities to explore. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 63 days on market, against an average age of 70 days across the listings currently for sale in this city
This 3-bed multi-family in Little Bay has been listed for 63 days, which is 7 days fresher than the city average of 70. Act while there is still low competition.
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Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.