$1,700,000
Central Elgin
218 Joseph Street, Central Elgin (Port Stanley), Ontario, N5L1C4
This retail property in Central Elgin is for sale offering roughly 4,548 sq ft of space.
Rare opportunity to acquire a landmark, income-producing property in the heart of Port Stanley's downtown core. The former Port Stanley Fire Hall has been extensively redeveloped into a modern commercial marketplace with an executive residential apartment above, creating a unique and diversified investment asset.The building comprises approximately 4,548 sq. ft., including 3,019 sq. ft. of main-floor commercial space and a 1,529 sq. ft. two-bedroom residential apartment on the second level. Originally constructed in 1974, the property has undergone over $1,000,000 in recent capital improvements, effectively replacing all major building components and delivering a near-new condition asset.The main floor is 100% leased as a curated marketplace, featuring a central corridor layout with multiple vendor stalls, excellent pedestrian flow, providing walk-up access, and upgraded common areas including men's and women's washrooms. The space has been thoughtfully designed to support long-term tenancy, flexibility, and strong foot traffic.The upper-level apartment offers two bedrooms, two bathrooms, an open-concept kitchen with island, quality appliances, living area, private entrance, gas fireplace and a private outdoor terrace with gas BBQ. Finishes are modern and professional, suitable for executive or long-term rental occupancy. Mechanical and electrical upgrades include 400-amp service, multiple hydro meters, generator, new HVAC systems, new roof, new plumbing, accessibility improvements, and new stormwater pipe. The property is zoned B1 (Business Zone) and benefits from exceptional exposure to both pedestrian and vehicular traffic in Port Stanley's central business district.This is a stabilized, income-generating investment with additional upside through tenant turnover, rental optimization, and long-term appreciation in one of Southwestern Ontario's most sought-after waterfront communities. Financial information available upon execution of a confidentiality agreement. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 135 days on market, against an average age of 63 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 66 days on the market over the past year, against a median of 48 days across the markets we publish.
This retail in Central Elgin (Port Stanley) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $1,700,000, about 19.1× the local median household income of $89,000.
Carrying it typically needs a household income of about $332,070 (20% down, 25-yr amortization, stress-tested) — roughly 273% above the area median.
Source: Statistics Canada, 2021 Census (FSA N5L)
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