$1,295,000

For sale

275 Talbot Street, St. Thomas - Retail for Sale

275 Talbot Street, St. Thomas, Ontario, N5P1B3

3,920 sq ft lot sizeListed 61 days ago

Overview

This retail property in St. Thomas is for sale. It has been on the market 61 days, fresher than the St. Thomas average of 71 days.

Retail Space for Sale in St. Thomas →All real estate in St. Thomas →

Description

Excellent Investment Opportunity near the Prestigious Courthouse area of Downtown St. Thomas. Recently Updated Mixed use Commercial Building with 7 Residential Units ( 6 One Bedroom Units + 1 Bachelor )and One Commercial Unit. Gross Yearly Income of $116,280.00. Current NET Income shows an approximate 7.4% return on asking price. Each Unit has its own Hydro meter and all Tenants pay their own Heat & Hydro. Building has Secure Entry, Fire Alarm System and Panel, Security Cameras and Emergency Exits. Recent Updates Include Renovations and Upgrades to Units 1,2,3,4,5 and 7. Exterior Front/Side/Rear Wall Elevations Renovated along with Exterior Windows ( 3 Years ago ), Interior Hallways Renovated with all Vinyl Flooring and LED Sensor Lighting ( 2 Years ago ). Owned Hot Water Heaters ( 2 Years ago ). Easy Access to London and Highway 401 as well as Port Stanley's Beaches. Walking distance to Convenient Shopping including Grocery Stores, Service Centres, Boutiques and more. (id:66096)

Property Details

MLS®: X13744814
Property Type: Retail
Business Type: Retail and Wholesale
Zoning: C1-3
Lot Size: 3,920 sq ft
Frontage: 23 ft
Heating: Baseboard heaters
Cooling: None
Property Tax: $6,630.8/yr
Listed: 61 days ago

Features

Appliances: Water Heater

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

61d

St. Thomas listings, avg age

71d

List price

$1.29M

Homes here sell close to asking price

Homes in this market sold for an average of 97.5 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This retail in St. Thomas has been listed for 61 days, which is 10 days fresher than the city average of 71. Act while there is still low competition.

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Listed by ROYAL LEPAGE TRILAND REALTY · JOE BUCZKOWSKI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N5P)

This home lists at $1,295,000, about 16.7× the local median household income of $77,500.

Carrying it typically needs a household income of about $252,959 (20% down, 25-yr amortization, stress-tested) — roughly 226% above the area median.

Median household income: $77,500
Population: 21,081
Median age: 42.8
Owner / renter: 68% / 32%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA N5P)

$1,295,000

For sale

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Financing

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