2 Lemarchant Road
St. John's, NL, A1C2G5
6 Beds | 4 Baths
$339,900
About the property (MLS: 1284374):
Welcome to this impressive and versatile 3-story building located in the centrally located and prime area on the corner of Lemarchant and Freshwater road. This exceptional property offers a unique opportunity for those seeking a combination of commercial and residential spaces. As you step into the main level, you'll be greeted by the business space that boasts ample square footage and excellent visibility to attract a steady stream of customers. The layout and available storage provides endless possibilities for various types of businesses, whether it be a retail store, boutique, office space, or even a restaurant with minor modifications. The current business is well established and has been a reliable long term tenant! Ascending to the upper floor, you'll discover a spacious apartment that provides peace away from the bustling commercial activity below. This residence features 4-6 bedrooms, 1.5 bathrooms, a large kitchen, and a comfortable living area. Large windows flood the space with natural light and a view of Downtown St. John's creating a warm and inviting ambiance throughout. One of the highlights of this property is its central location, which ensures easy accessibility and maximum exposure for your business. Situated in the heart St. John's, you'll find yourself surrounded by a plethora of amenities, including popular restaurants, cafes, shops, and entertainment venues. Whether you're an entrepreneur looking to establish your business in a prime location while enjoying the convenience of living on-site, an investor seeking an income-generating property, or someone interested in converting the space to suit their unique needs, this centrally located 3-story building offers endless possibilities. Don't miss out on this incredible opportunity to own a property that combines commercial potential with comfortable living arrangements. Envision the possibilities that await in this centrally located gem! (id:56688)
Property Details
Listing ID: 28233805
Address: 2 Lemarchant Road, St. John's, Newfoundland & Labrador, Canada A1C2G5
Status: Active
Last updated: 21 days ago ( Apr 30, 2025 )
Year Built: 1930
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 6
Baths: 4
1/2 Baths: 2
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Other, Mixed Flooring
Living Area Total: 3,720 square feet
Price per sq ft: $92
Tax Annual Amount: $4,421
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Stove, Dryer, See remarks
Water Source: Municipal water
Foundation Details: Concrete
Heating: Baseboard heaters, Electric
Flooring: Laminate, Other, Mixed Flooring
Exterior Features: Other
Common Interest: Freehold
Number of photos available: 30
Rurl
Coordinates: [47.564009, -52.715447]
Rooms
| Third level | Not known Not known Not known Not known Bath (# pieces 1-6) | 14.7 x 11.5 null 15 x 10.2 null 14.7 x 10.6 null 13.1 x 10.2 null 9 x 5.8 null |
| Second level | Bath (# pieces 1-6) Not known Not known Not known Not known | 6 x 4.6 null 11 x 9.3 null 10.2 x 9.9 null 14.6 x 11.1 null 18.3 x 10.1 null |
| Main level | Bath (# pieces 1-6) Other Bath (# pieces 1-6) Other | 5.2 x 3.8 null 21.8 x 13 null 6.4 x 6 null 21.8 x 15.5 null |
Basic Calculator
First Mortgage: $271,920
Mortgage insurance premium: $0
Total Financing: $271,920
Rough closing fee (1.5%): ~ $5,099
Total downpayment with estimated closing fee: $73,079
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $4,093 | $49,116 |
| Gross rental income (income/principal ratio) | 1.204% | 14.450% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $425 | $5,100 |
| Vacancy | $205 | $2,456 |
| Management Fee | $328 | $3,930 |
| Expense / Income Ratio | 10.38% | 10.38% |
| Cash Flow | $3,136 | $37,632 |
| Net Operating Income (NOI) | $3,136 | $37,632 |
| Capitalization Rate | 0.92% | 11.07% |
