302-304 Water Street
St. John's, NL, A1C1B8
$770,000
About the property (MLS: 1287116):
Step Into St. John’s History with 302-304 Water Street – Prime Mixed-Use Investment Opportunity Welcome to 302-304 Water Street, a rare opportunity to own a piece of downtown St. John's history in one of the city’s most vibrant and high-traffic locations. Backing onto Mahon’s Lane with direct access to iconic George Street, this mixed-use property offers incredible value, a solid income stream, and outstanding growth potential. Whether you’re an investor seeking strong rental returns, a developer looking to expand into short-term rentals like Airbnb, or simply want to own a strategic downtown holding, this property checks all the boxes. Surrounded by properties valued well over a million, 302-304 Water Street is a smart investment in a city with growing demand and limited supply. (id:56688)
Property Details
Listing ID: 28531805
Address: 302-304 Water Street, St. John's, Newfoundland & Labrador, Canada A1C1B8
Status: Active
Last updated: 13 days ago ( Jun 27, 2025 )
Property Type: Business
Structure Type: Other
Ownership Type: Freehold
Heating: Electric
Living Area Total: 2,923 square feet
Price per sq ft: $264
Tax Annual Amount: $5,830
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Heating: Electric
Common Interest: Freehold
Business Type: Other, Service
Building Features: Living Accommodation
Number of photos available: 1
Rurl
Coordinates: [47.561819, -52.710033]
Rooms
Basic Calculator
First Mortgage: $616,000
Mortgage insurance premium: $0
Total Financing: $616,000
Rough closing fee (1.5%): ~ $11,550
Total downpayment with estimated closing fee: $165,550
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,216 | $38,592 |
| Gross rental income (income/principal ratio) | 0.418% | 5.012% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $963 | $11,556 |
| Vacancy | $161 | $1,930 |
| Management Fee | $258 | $3,088 |
| Expense / Income Ratio | 29.94% | 29.94% |
| Cash Flow | $1,835 | $22,020 |
| Net Operating Income (NOI) | $1,835 | $22,020 |
| Capitalization Rate | 0.24% | 2.86% |
