About the property (MLS: 1277626):
Unique opportunity to purchase a commercial-residential mixed property with plenty of parking for multiple commercial options. Residential portion is on the second floor, retaining some original character, 3 bedrooms, 1 bath, kitchen and a large living room-dining combination with non-functional fireplace. The main floor consists of approximately 1800 square feet of former store front and approximately 1000 square feet of garage and storage areas. Many options for development and future use! Zoned Commercial Neighbourhood. (id:56688)
Property Details
MLS: 1277626
Listing ID: 27442795
Address: 397 Empire Avenue, St. John's, Newfoundland & Labrador, Canada A1E1W6
Status: Active
Last updated: 5 months ago ( Sep 19, 2024 )
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Heating: Hot water radiator heat, Oil
Flooring: Mixed Flooring
Fencing: Partially fenced
Living Area Total: 4,351 square feet
Price per sq ft: $109
Tax Annual Amount: $6,624
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Hot water radiator heat, Oil
Flooring: Mixed Flooring
Common Interest: Freehold
Business Type: Industrial, Other, Retail and Wholesale
Building Features: Living Accommodation
Number of photos available: 15
Rurl
Coordinates: [47.555858, -52.742123]
Listing ID: 27442795
Address: 397 Empire Avenue, St. John's, Newfoundland & Labrador, Canada A1E1W6
Status: Active
Last updated: 5 months ago ( Sep 19, 2024 )
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Heating: Hot water radiator heat, Oil
Flooring: Mixed Flooring
Fencing: Partially fenced
Living Area Total: 4,351 square feet
Price per sq ft: $109
Tax Annual Amount: $6,624
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Hot water radiator heat, Oil
Flooring: Mixed Flooring
Common Interest: Freehold
Business Type: Industrial, Other, Retail and Wholesale
Building Features: Living Accommodation
Number of photos available: 15
Rurl
Coordinates: [47.555858, -52.742123]
Rooms
Basic Calculator
First Mortgage: $379,200
Mortgage insurance premium: $0
Total Financing: $379,200
Rough closing fee (1.5%): ~ $7,110
Total downpayment with estimated closing fee: $101,910
Investment Calculator:
Monthly | Yearly | |
---|---|---|
Gross Revenue | $4,787 | $57,444 |
Gross rental income (income/principal ratio) | 1.010% | 12.119% |
Mortgage | $0 | $0 |
Monthly Expenses | $593 | $7,116 |
Vacancy | $240 | $2,873 |
Management Fee | $383 | $4,596 |
Expense / Income Ratio | 12.39% | 12.39% |
Cash Flow | $3,572 | $42,864 |
Net Operating Income (NOI) | $3,572 | $42,864 |
Capitalization Rate | 0.75% | 9.04% |
Capitalization Rate: 9.04%
After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $677,143