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Commercial listings / Investment / For sale

221 Algonquin Avenue, North Bay, ON P1B 4V8

$2,899,900

221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 1221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 2221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 3221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 4221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 5221 Algonquin Avenue, North Bay, ON P1B 4V8, photo 6
Property type
Investment
Transaction
For sale
Location
North Bay, Nipissing
Building area
20,500 Square Feet
MLS® number
X13739056

Description

This well-positioned multi-use property offers an attractive combination of residential and commercial income potential. The building features 18 one-bedroom apartments and 4 commercial spaces, providing a diverse tenant mix and multiple revenue streams. Located at a highly visible downtown intersection, the property is C-1 zoned and offers excellent exposure. Select residential units feature water views, with North Bay's scenic waterfront and downtown amenities just moments away. Additional features include approximately 25 parking spaces, three sets of new cashless digital operated washers and dryers under lease agreement with Sparkle solutions , and a hot water boiler heating system updated in 2011. The membrane roof coverings were updated in 2012. A Phase 1 environmental report, survey, income and expense statements, and additional supporting documentation are available through the listing brokerage. An excellent opportunity for investors seeking a substantial mixed-use asset with existing income, additional upside potential, flexible commercial opportunities, and a prime downtown location.

Listing brokerage: EXP REALTY

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