48 Topsail Pond Road
Paradise, NL, A1L2B3
$389,900
About the property (MLS: 1281378):
This is a unique opportunity for someone looking to run an automotive shop while having the flexibility of a single-family dwelling either as an investment or a place to live. Located in a beautiful area, this property offers both residential and commercial potential. The fully equipped garage includes: A vehicle lift Tire changer and balancer Workbench The shop is ready for operations and has approved business hours from Monday to Friday, 8 AM to 5 PM, offering a great balance for someone looking to work onsite or rent out the living space for additional income. This dual-purpose property combines the convenience of living and working on-site or earning rental income while running a business. (id:56688)
Property Details
Listing ID: 27859039
Address: 48 Topsail Pond Road, Paradise, Newfoundland & Labrador, Canada A1L2B3
Status: Active
Last updated: 2 months ago ( Feb 4, 2025 )
Year Built: 1950
Property Type: Retail
Structure Type: Special Purpose
Ownership Type: Freehold
Heating: Electric
Flooring: Laminate, Other
Living Area Total: 2,880 square feet
Price per sq ft: $136
Tax Annual Amount: $2,294
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Electric
Flooring: Laminate, Other
Common Interest: Freehold
Business Type: Automobile
Number of photos available: 27
Rurl
Coordinates: [47.527886, -52.905911]
Rooms
Basic Calculator
First Mortgage: $311,920
Mortgage insurance premium: $0
Total Financing: $311,920
Rough closing fee (1.5%): ~ $5,849
Total downpayment with estimated closing fee: $83,829
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,169 | $38,028 |
| Gross rental income (income/principal ratio) | 0.813% | 9.753% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $488 | $5,856 |
| Vacancy | $159 | $1,902 |
| Management Fee | $254 | $3,043 |
| Expense / Income Ratio | 15.40% | 15.40% |
| Cash Flow | $2,270 | $27,240 |
| Net Operating Income (NOI) | $2,270 | $27,240 |
| Capitalization Rate | 0.58% | 6.99% |
