3RD FL - 31 ATLANTIC AVENUE, Toronto (Niagara), Ontario, M6K3E7
Main floor and mezzanine income is $7506 plus utilities (water, waste management, gas and hydro)and HST. Original term ends on October 31,2026. Plus a 5 year option. It is leased to Liberty Grace Church. They are willing to stay and renew for another 5 years. They were looking to buy the property but unfortunately cannot come up with a down payment of 30%.Upper floor income was $5237 plus utilities (water, waste management, gas and hydro) and HST. Currently vacant and being painted, replacing windows and washroom.Tony has not leased the upper unit in case a potential buyer needs the space.Potential income from renting north wall for advertising according to Grassroots Advertising: $36,000 per year as per their offer to lease. Again Tony is holding off leasing as he prefers to sell the property.Seller pays property tax; $29,507.47(2025). The main floor is leased to a church and may qualify for a property tax exemption although the current owner has not applied for it.Seller pays property insurance $6,025.32. (id:2471)
McConkey Real Estate Corp. Brokerage
- 705-745-4321
- 705-745-4324
- john@mcconkeyrealestate.com
- Property Address: 3RD FL - 31 ATLANTIC AVENUE, Toronto (Niagara), Ontario, M6K3E7
- Community Name: Niagara
- Property Type: Retail
- Zoning Description: Commercial/ Retail/ Industrial
- Lot Size: 27.49 x 103.9 FT
- Acreage: 27.49 x 103.9 FT
- Water Type: Municipal water
- Floor Space: 4328 sqft
- Bathrooms: 4-Total
- Heating Type: Natural gas, Forced air
- Cooling: Fully air conditioned
Listing Office: RE/MAX WEST REALTY INC.
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