3 Queen Street
St. John's, NL, A1C4K2
$1,250,000
About the property (MLS: 1280503):
This office complex features four rentable floors of both office and retail space and is located in the heart of downtown St. John's (there is also a full 2500 sq. ft basement for storage). Conversion to residential units is permitted within the zoning. The first floor was previous a NL Liquor Store and the refrigeration equipment remains, making it an ideal space for a restaurant or speciality grocery store. The vendor has undertaken significant renovations since they acquired the property. All 4 levels are separately metered with updated electrical throughout and all levels have dedicated rooftop HVAC units. Some furnishings remain on floors 2 and 3. There is elevator access to all four floors as well as a public stairwell and rear stairwell fire escape. Adjacent to the St. John's entertainment district, Mary Browns Center and garage parking. 1 minute from Outer Ring Road access. (id:56688)
Property Details
Listing ID: 27764549
Address: 3 Queen Street, St. John's, Newfoundland & Labrador, Canada A1C4K2
Status: Active
Last updated: 15 days ago ( Jan 3, 2025 )
Property Type: Business
Structure Type: Special Purpose
Ownership Type: Freehold
Heating: Electric, Other
Flooring: Carpeted, Other
Living Area Total: 10,000 square feet
Price per sq ft: $125
Tax Annual Amount: $42,366
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Electric, Other
Flooring: Carpeted, Other
Common Interest: Freehold
Business Type: Restaurant, Residential, Service, Arts and Entertainment
Number of photos available: 22
Rurl
Coordinates: [47.559975, -52.711739]
Rooms
Basic Calculator
First Mortgage: $1,000,000
Mortgage insurance premium: $0
Total Financing: $1,000,000
Rough closing fee (1.5%): ~ $18,750
Total downpayment with estimated closing fee: $268,750
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $11,000 | $132,000 |
| Gross rental income (income/principal ratio) | 0.880% | 10.560% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $1,563 | $18,756 |
| Vacancy | $550 | $6,600 |
| Management Fee | $880 | $10,560 |
| Expense / Income Ratio | 14.21% | 14.21% |
| Cash Flow | $8,007 | $96,084 |
| Net Operating Income (NOI) | $8,007 | $96,084 |
| Capitalization Rate | 0.64% | 7.69% |
