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For Sale
$3,250,000
MLS® C13248374
3RD FL - 31 ATLANTIC AVENUE
Toronto (Niagara), Ontario, M6K3E7
- Beds / Baths
- 4 bath
- Interior
- 4,328 sqft
- Property type
- Retail
- Building
- Retail
- Lot size
- 27.49 x 103.9 FT
Property facts
- Beds / Baths
- 4 bath
- Interior
- 4,328 sqft
- Property type
- Retail
- Building
- Retail
- Transaction
- For Sale
- Lot size
- 27.49 x 103.9 FT
About this property
Main floor and mezzanine income is $7506 plus utilities (water, waste management, gas and hydro)and HST. Original term ends on October 31,2026. Plus a 5 year option. It is leased to Liberty Grace Church. They are willing to stay and renew for another 5 years. They were looking to buy the property but unfortunately cannot come up with a down payment of 30%.Upper floor income was $5237 plus utilities (water, waste management, gas and hydro) and HST. Currently vacant and being painted, replacing windows and washroom.Tony has not leased the upper unit in case a potential buyer needs the space.Potential income from renting north wall for advertising according to Grassroots Advertising: $36,000 per year as per their offer to lease. Again Tony is holding off leasing as he prefers to sell the property.Seller pays property tax; $29,507.47(2025). The main floor is leased to a church and may qualify for a property tax exemption although the current owner has not applied for it.Seller pays property insurance $6,025.32. (id:53361)