$ 1,200,000
227 COLBORNE ST Central Elgin, ON N5L 1C2
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,200,000
Est. payment /mo
Active
227 COLBORNE ST Central Elgin, ON N5L 1C2
4,203 SqFt
UPDATED:
05/29/2024 05:16 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,203 sqft
Price per Sqft $285
MLS Listing ID X8285942
Annual Tax Amount $10,854
Tax Year 2023
Property Description
This is the opportunity of a lifetime to purchase a landmark building in an incredible downtown location in Port Stanley. The building is located at a stoplight location on a heavily trafficked county roadway. Expect plenty of walk-by traffic as well. 4 commercial units paying rent and a highly in-demand downtown residential apartment. Over 4000 square feet of rentable square footage. Rents are actualized and at market value. $85,800 gross rents with the tenants absorbing a large part of TMI. There is also the opportunity to purchase the Apropos business as well as the building and land. The business is a high reputed, household name in Port Stanley that retails fine clothing and accessories. It comes with significant goodwill. There are plenty of allowable uses for the property under current zoning. Port Stanley is developing quickly ahead of the Volkswagen EV Gigafactory launch. This is a perfect place for a savvy investor to have their money go to work.
Location
Province ON
County Elgin
Rooms
Family Room No
Basement Partial Basement
Kitchen 0
Interior
Cooling Unknown
Fireplace No
Exterior
Garage Other
Pool None
Utilities Available Unknown
Waterfront No
Roof Type Unknown
Parking Type None
Total Parking Spaces 7
Building
Foundation Concrete Block
Others
Security Features Alarm System,Carbon Monoxide Detectors,Security System
Listed by ROYAL LEPAGE TRILAND REALTY