Description

VTB OPTIONS AVAILABLE! 1720 Algonquin Avenue in North Bay presents an excellent commercial investment opportunity in a high-traffic, high-exposure location. The property features two units within one building, including a larger space currently leased long-term to a successful takeout restaurant paying $3,876 plus HST per month (net lease), and a smaller retail unit with rent at $900 per month. The site offers exceptional visibility, easy access, and a large parking lot with plenty of spaces, making it attractive to both tenants and customers. With strong existing rental income and the potential for continued stability, this property is well-suited for investors seeking a reliable cash-flowing asset in one of North Bay’s busiest commercial corridors. This is a prime location with great income. (id:66096)

Property Details

MLS®: 40761654
Property Type: Retail
Zoning: C4
Interior Size: 1,800 ft²
Frontage: 60 ft
Building Area: 1,800 ft²
Storeys: 1
Basement: Partial
Ownership: Freehold
Property Tax: $17,294.59/yr
Listed: 442 days ago

Features

Foundation: Poured Concrete
Exterior: Brick
Lot Features: Paved driveway

Services

Water: Municipal water
Sewer: Municipal sewage system
Utilities: Natural Gas, Electricity, Telephone

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

442d

North Bay listings, avg age

62d

Price / ft²

$403

List price

$725K

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.

Haho

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Area context

Neighbourhood profile (P1B)

This home lists at $725,000, about 11.0× the local median household income of $66,000.

Carrying it typically needs a household income of about $141,618 (20% down, 25-yr amortization, stress-tested) — roughly 115% 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)

$725,000· $403/ft²

For sale

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Financing

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1720 ALGONQUIN Avenue, North Bay - Retail for Sale