12 ST CATHARINE STREET

St. Thomas, Ontario, N5P2V6, Canada

$499,900

Unique investment opportunity in the Downtown Core of St Thomas. Both properties are exclusively being sold together. A VACANT 6300 Sq Ft building and a 41ft by 109ft rear lot (currently being rented as a parking lot). Both lots are under the same C2 zoning allowing for full commercial, full residential or mixed use. Architectural plans to convert the entire building into 11 residential units is included in the listing documents. After development, this would be an excellent candidate for refinancing under CMHC with a strong cashflow and no rent control. The rear lot would also provide sufficient parking for all units or can be redeveloped. Property is serviced by municipal water & sewers, natural gas and hydro. Building includes 6 breakers, 6 hydro meter bases, 3 gas meters, 3 furnaces and 8 existing points of entry. Excellent visibility in a family-friendly neighbourhood within steps to City Hall, Public Library, Westlake Evans Park, YMCA daycare, retail stores, restaurants, bars and public transit.

Last updated on : Friday 20th of September 2024 07:20:42 PM

ADDRESS

Street : 12 ST CATHARINE STREET

City : St. Thomas

Province : Ontario

Country : Canada

Postal Code : N5P2V6

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PROPERTY SUMMARY

Property ID : X9361257

Building Type : Other

Property Type : Multi-family

Bathrooms : 5 + 2

Parking : 11

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