$1,350,000

For sale

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227-229 Pearl Street, Thunder Bay (Court / Cumberland) - Retail for Sale

227-229 Pearl Street, Thunder Bay (Court / Cumberland), Ontario, P7B1E3

10 baths50 parking13,939 sq ft (0.32 ac) lot sizeListed 267 days ago

Overview

This retail property in Thunder Bay is for sale.

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Description

**FOR SALE***HUGE INVESTMENT PROPERTY*** PRIME DOWNTOWN WATERFRONT DISTRICT*****11,880 sf + 3 Parking Lots**8% CAP RATE* PERFECT FOR INVESTMENT**Annual Rent Potential $155,000+: Lower Level-$64,979.86 (Leased) + 2nd Floor-$25,066.50 (Leased)+ Main Floor $64,000(Currently Vacant) *** Full NEW Commercial Kitchen 2024** Eating & Bar Area in Basement. **Stage** + Natural Hardwood Dance Floor- Wide Open Space, 2 Office Spaces+ Bathrooms. Brand new Boiler System Installed in (2023); with Plenty of Parking in PRIME DOWNTOWN PORT ARTHUR LOCATION!!*INCLUDES 3 ADJACENT, PARKING LOTs (33' X 165')* Currently Basement & 2nd Floor are Leased, Main Floor is vacant Open Concept banquet hall Stage, dance floor and wide open space on main floor along with additional rentable office space on main floor with 2-piece bathroom. Second floor includes 8 total individual offices paces plus boardroom and storage room with two complete bathrooms *VACANT IMMEDIATE POSSESSION**Please Call Anytime for Details & Showings. (id:66096)

Property Details

MLS®: X13244182
Property Type: Retail
Zoning: Downtown Neighborhood Zone
Bathrooms: 10
Parking: 50
Lot Size: 13,939 sq ft (0.32 ac)
Frontage: 198 ft
Basement: Full
Heating: Natural gas, Other
Property Tax: $19,944.41/yr
Listed: 267 days ago

Features

Foundation: Poured Concrete
Exterior: Brick
Lot Features: Irregular lot size

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Cable, Telephone, Natural Gas Available, Electricity Connected

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

267d

Thunder Bay (Court / Cumberland) listings, avg age

67d

List price

$1.35M

Homes here sell faster than most markets

Sold homes in this market spent an average of 24 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 107.5 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This retail in Thunder Bay (Court / Cumberland) is available now. Want me to connect you with the agent or keep you posted on any price updates?

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Listed by Royal LePage® Lannon Realty · Enzo Ruberto

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P7B)

This home lists at $1,350,000, about 19.3× the local median household income of $70,000.

Carrying it typically needs a household income of about $263,702 (20% down, 25-yr amortization, stress-tested) — roughly 277% above the area median.

Median household income: $70,000
Population: 22,675
Median age: 40.8
Owner / renter: 55% / 45%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P7B)

$1,350,000

For sale

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Financing

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