St. John's, NL, A1C1A9

About the property (MLS: 1282030):

Located in the heart of downtown St. John’s, 152 Water Street presents a premier redevelopment or investment opportunity, offering both strong current rental income and significant future potential. This 33,290 sq. ft. mixed-use building, with 28,128 sq. ft. currently developed for lease, has historically operated as an entertainment center and is surrounded by commercial buildings, making it well-suited for conversion into office, retail, boutique condominiums, or upscale rental apartments. The property offers ample space for a 30-unit residential conversion, with potential for vertical expansion to maximize stunning ocean views. Situated on a 7,276 sq. ft. lot with prime Water Street frontage, this property is located in one of St. John’s most vibrant commercial corridors, surrounded by shops, restaurants, and major urban revitalization projects, such as the Alt Hotel across the street. While the property offers exceptional redevelopment potential, it is still generating strong rental revenue, making it an attractive option for investors who want to hold and lease while planning for future redevelopment. Whether maintained as a cash-flowing asset, converted into modern office space, or developed into a landmark residential project, this property offers exceptional flexibility and long-term value in Newfoundland’s capital. (id:56688)

Property Details