For sale · MLS® 1302612
85 Airport Road
St. John's, NL, A1A4Y3
List price
$384,900
About this propertyMLS® 1302612
Prime commercial opportunity on Airport Road. Situated on a large lot measuring approximately 78' x 249' x 101' x 196', this Commercial Highway (CH) zoned property offers exceptional exposure, flexibility, and long-term development potential in one of St. John's most strategic commercial corridors. Located just minutes from St. John's International Airport, Stavanger Drive, the Trans-Canada Highway, major retailers, restaurants, schools, and recreation facilities, the property benefits from strong traffic flow and excellent accessibility. Commercial Highway zoning permits a wide variety of potential uses including offices, retail, service-based businesses, clinics, warehouses, hotels, restaurants, commercial schools, and other commercial applications, subject to municipal approvals. Currently improved with a residential bungalow generating rental income of $1,500 per month POU, investors can benefit from immediate cash flow while exploring future development or business opportunities. The property also includes a detached 16' x 20' wired garage/workshop, storage shed, ample parking, and a mature treed setting. Whether you're seeking a future business location, redevelopment opportunity, investment property, or land holding asset, 85 Airport Road offers outstanding potential in a rapidly growing area with strong long-term prospects. Tenant occupied. A minimum of 24 hours' notice is required for all showings. (id:56688)
Property details
Coordinates: [47.605297, -52.742083]
Rooms
Basic Calculator
First Mortgage: $307,920
Mortgage insurance premium: $0
Total Financing: $307,920
Rough closing fee (1.5%): ~ $5,774
Total downpayment with estimated closing fee: $82,754
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,244 | $26,928 |
| Gross rental income (income/principal ratio) | 0.583% | 6.996% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $482 | $5,784 |
| Vacancy | $113 | $1,347 |
| Management Fee | $180 | $2,155 |
| Expense / Income Ratio | 21.48% | 21.48% |
| Cash Flow | $1,471 | $17,652 |
| Net Operating Income (NOI) | $1,471 | $17,652 |
| Capitalization Rate | 0.38% | 4.59% |
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