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581 Niagara Street in VICTORIA: Vi James Bay Retail for sale (Victoria) : MLS®# 417672

581 Niagara Street VICTORIA V8V 1H8 : Vi James Bay

Main Photo: 581 Niagara Street in VICTORIA: Vi James Bay Retail for sale (Victoria)  : MLS®# 417672banner
$1,349,000
Prop. Type:
Commercial
MLS® Num:
417672
Status:
Active
Build. Type:
Mixed Use
A great opportunity to purchase a mixed use building in beautiful James Bay. This building has recently undergone a complete renovation, with new plumbing, electrical, insulation and a new roof in March 2019.The Ground floor space has housed a community grocery store since it was originally built in 1908, making it the oldest grocery store in Victoria. The ground floor commercial space is approximately and occupied by the Niagara Market. The two newly renovated upper suites have separate private entrances and consist of a 2 bed suite and a large 1 bed suite. The suites have restored hardwood flooring and modern kitchens with over height ceilings and ensuite laundry.With the building built directly on 3 lot lines, a large outdoor space has been created which can be used for parking or as an outdoor patio for the commercial tenant. Building generates over $80,000 in revenue and has room for increased lease rates. 4.4% Cap rate *Please do not approach staff. Call to set up viewings.
Property Type:
Commercial
Commercial Type:
Retail, Multi-Family (5+ Units)
Type:
Retail
Total Finished Rooms:
0
Total Unfinished Rooms:
0
Lot Size:
Switch units of measure0.08 acre(s)
Title to Land:
Freehold
Building Type:
Mixed Use, Multi-Family, Retail
Parking Places:
2.0
Onsite Parking:
Yes
Near the corner of Government and Niagara,
High Traffic Area, Sidewalk
Assessment year:
2019
Revenue Property (Y/N):
No
Lot Site Features:
View: City
Data was last updated November 13, 2019 at 04:05 PM (UTC)
NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.