1521 Topsail Road
Paradise, NL, A1L1R2
$550,000
About the property (MLS: 1269763):
Attention investors and small business owners alike! This might be just the property you've been searching for. Whether you are looking to acquire an investment with the potential for two tenants or you'd just like to take the next step with your small business and move away from paying rent to being a building owner, this could be for you. Featuring 2160 sqft on the main floor with wheelchair accessibility. Ideal for any variety of retail operation. There is a huge open space to the rear of the mini-split heated (and cooled) main floor. The basement approx 1400 sq ft and currently occupied by a dog grooming business which will be vacating by the end of May. The basement was renovated for that application. It is accessible from the rear of the building as well as via a staircase connecting the upstairs and downtairs. Both units have their own bathrooms plus plenty of storage. Seller paved the parking lot, instalelled the mini-splits, renovated the basement and acquired a tractor for snow clearing (which can be negotiated into a sale). (id:56688)
Property Details
Listing ID: 26767613
Address: 1521 Topsail Road, Paradise, Newfoundland & Labrador, Canada A1L1R2
Status: Active
Last updated: 2 years ago ( May 15, 2024 )
Year Built: 1965
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Heating: Baseboard heaters, Electric
Flooring: Laminate, Other, Mixed Flooring
Living Area Total: 3,558 square feet
Price per sq ft: $155
Tax Annual Amount: $5,218
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Baseboard heaters, Electric
Flooring: Laminate, Other, Mixed Flooring
Common Interest: Freehold
Business Type: Other
Building Features: Laundry Facility
Number of photos available: 11
Rurl
Coordinates: [47.531487, -52.862595]
Rooms
Basic Calculator
First Mortgage: $440,000
Mortgage insurance premium: $0
Total Financing: $440,000
Rough closing fee (1.5%): ~ $8,250
Total downpayment with estimated closing fee: $118,250
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,914 | $46,968 |
| Gross rental income (income/principal ratio) | 0.712% | 8.540% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $688 | $8,256 |
| Vacancy | $196 | $2,349 |
| Management Fee | $314 | $3,758 |
| Expense / Income Ratio | 17.58% | 17.58% |
| Cash Flow | $2,718 | $32,616 |
| Net Operating Income (NOI) | $2,718 | $32,616 |
| Capitalization Rate | 0.49% | 5.93% |
