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11 photos
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$600,000
Est. payment /mo
6,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Pending
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $95
Subdivision Nw
MLS Listing ID X12034111
Building Age 51-99
Annual Tax Amount $7,726
Tax Year 2024
Property Sub-Type Investment
Property Description
Discover a versatile 6,300 sq ft vacant building, zoned C2, with pre-approved architectural plans to convert the space into 10 or 11 modern residential units. This opportunity offers immediate upside for investors seeking a turnkey redevelopment project.Strategically located in the vibrant heart of downtown St. Thomas, the property boasts excellent visibility and is within steps of City Hall, the public library, parks, retail, dining, and transit. Comprehensive due diligence has been completed, including a clean ESA Phase 1 and a recent survey, ensuring confidence and readiness for development.Additionally, the asset features a rear lot currently operating as a parking area, which can be repurposed to support the residential conversion or for further redevelopment. With essential services like municipal water, sewers, natural gas, and hydro in place, this property provides a solid infrastructure foundation for a high-quality project.Seize the opportunity to transform this blank canvas into a thriving residential hub, and secure strong future returns in one of Ontarios most dynamic urban centers.
Location
Province ON
County Elgin
Community Nw
Area Elgin
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 25.0
Lot Depth 162.0
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Listed by ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES