Description

1.72 ACRE WATERFRONT DEVELOPMENT PARCEL FOR SALE. IDEAL LOCATION HAS FRONTAGE ON 3 STREETS. NEW OFFICIAL PLAN ALLOWS FOR 12 STORY BUILDING ON THIS SITE. CURRENT RESIDENTIAL/COMMERCIAL MIX PROPERTY INCOME CARRIES THE PROPERTY WITH POSITIVE CASHFLOW. OVERLOOKING THE ST CLAIR RIVER & IN SARNIA'S HIGHEST POPULATION DENSITY AREA. CONSISTING OF 11 RESIDENTIAL UNITS & 5 COMMERCIAL UNITS. THE HOUSES AND BUILDINGS HAVE ALL HAD EXTENSIVE UPGRADES. HIGHLY SOUGHT AFTER RESIDENTIAL UNITS ARE TASTEFULLY DECORATED & COMMAND TOP END LEASING RATES. STRONG ROSTER OF COMMERCIAL TENANTS TAKE ADVANTAGE OF THIS PREMIUM LOCATION & AMENITIES. CURRENTLY GROSSING APPROX $500,000 ANNUALLY. CALL FOR INCOME & EXPENSE INFO. 2 SHAREHOLDERS ARE REAL ESTATE AGENTS IN THE PROVINCE OF ONTARIO (id:66096)

Market Timing

Days on market

197d

Sarnia listings, avg age

68d

List price

$5.00M

Homes here sell faster than most markets

Sold homes in this market spent an average of 36 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

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Area context

Neighbourhood profile (N7T)

This home lists at $4,999,000, about 85.6× the local median household income of $58,400.

Carrying it typically needs a household income of about $976,480 (20% down, 25-yr amortization, stress-tested) — roughly 1572% above the area median.

Median household income: $58,400
Population: 26,033
Median age: 44.4
Owner / renter: 51% / 49%
Avg. household size: 2

Source: Statistics Canada, 2021 Census (FSA N7T)

$4,999,000

For sale

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Financing

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140 FRONT Street, Sarnia - Industrial for Sale

Description

Property Details

Features

Market Timing

Location

Nearby Places

Neighbourhood profile (N7T)

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