For sale · MLS® 1298882
3 Blackmarsh Road
St. John's, NL, A1E1S2
List price
$649,500
About this propertyMLS® 1298882
Prime mixed-use property offering immediate cash flow and future upside. the upper level features a spacious 3 bedroom apartment, while approximately 2,000 sq ft of additional upper-level space presents an excellent opportunity for further development, expansion, or the creation of additional rental units (subject to city approval) The main floor is currently leased to a commercial tenant with 3 years remaining on the lease, providing stable and predictable income from day one. Ideal for investors, developers, or business owners seeking a high-visibility property with multiple revenue streams and significant value-add potential. A rare opportunity to acquire a property that combines secure commercial tenancy with residential development possibilities. (id:56688)
Property details
Coordinates: [47.554089, -52.727151]
Rooms
| Second level | Not known | 1000sq ft null |
Basic Calculator
First Mortgage: $519,600
Mortgage insurance premium: $0
Total Financing: $519,600
Rough closing fee (1.5%): ~ $9,743
Total downpayment with estimated closing fee: $139,643
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,741 | $44,892 |
| Gross rental income (income/principal ratio) | 0.576% | 6.912% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $812 | $9,744 |
| Vacancy | $188 | $2,245 |
| Management Fee | $300 | $3,592 |
| Expense / Income Ratio | 21.71% | 21.71% |
| Cash Flow | $2,443 | $29,316 |
| Net Operating Income (NOI) | $2,443 | $29,316 |
| Capitalization Rate | 0.38% | 4.51% |
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