287 Bay Street, Thunder Bay (Court / Cumberland) - Retail for Sale
287 Bay Street, Thunder Bay (Court / Cumberland), Ontario, P7B1R7
11 parking3,189 ft²3,189 sq ft lot sizeListed 22 days ago
Overview
This retail property in Thunder Bay is for sale offering roughly 3,189 sq ft of space. It has been on the market 22 days, fresher than the Thunder Bay average of 67 days.
Commercial & Residential Opportunity in the Desirable Bay/Algoma District Location is everything, and 287 Bay Street offers an exceptional opportunity to own a commercial/residential property in the highly sought-after Bay/Algoma District. This vibrant area is one of the city's most desirable places to operate a business and is also a convenient place to live, with banking, grocery stores, pharmacies, restaurants, and a wide variety of other amenities all close by.The main floor offers approximately 2,000 sq. ft. of versatile commercial space, currently consisting of front retail space, office space, 2PC bathroom, a back room area, and shop/storage space. There is also a full basement providing excellent additional storage, along with garage/warehouse space featuring an overhead door - ideal for businesses requiring additional workspace or storage. The entire second floor is a spacious residential apartment of approximately 1,189 sq. ft., offering 1 bedroom, a dedicated office area, 3PC bathroom with walk in closet, plus a 2nd, 2PC bathroom, spacious living room, and bright kitchen. Large windows provide an abundance of natural light throughout the living space. The apartment has its own private entrance, providing excellent separation from the commercial space below. This property offers flexibility for an owner/operator looking to run their business while living right upstairs. Or, rent the space for additional income. The commercial/residential zoning also contributes to low property taxes, adding to the appeal of this unique opportunity. With 11 paved parking spaces, versatile commercial space, garage/warehouse area, full basement storage, and a spacious residential apartment above, excellent combination of functionality and convenience. Operate your business, live upstairs, and own the property you're building your future in. This is a rare opportunity to combine business and residential space in the heart of the Bay/Algoma District. (id:66096)
Property Details
MLS®
X14016870
Property Type
Retail
Zoning
Main Street Zone
Parking
11
Interior Size
3,189 ft²
Lot Size
3,189 sq ft
Frontage
56 ft
Building Area
3,189 ft²
Heating
Forced air, Natural gas
Cooling
Fully air conditioned
Garage
Other
Property Tax
$7,278.87/yr
Listed
22 days ago
Services
Water
Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Days on market
22d
Thunder Bay (Court / Cumberland) listings, avg age
67d
Price / ft²
$204
List price
$650K
Extended: 22 days on market, against an average age of 67 days across the listings currently for sale in this city
Market timing · days on market0 → 67d avg age of current listings
Extended · day 22
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) has been listed for 22 days, which is 45 days fresher than the city average of 67. Act while there is still low competition.
Listed by Signature North Realty Inc. · Marcia Jean Broughton
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Area context
Neighbourhood profile (P7B)
This home lists at $649,900, about 9.3× the local median household income of $70,000.
Carrying it typically needs a household income of about $126,948 (20% down, 25-yr amortization, stress-tested) — roughly 81% 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)
$649,900· $204/ft²
For sale
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Financing
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