For sale · MLS® 1302615
85 Airport Road
St. John's, NL, A1A4Y3
List price
$384,900
About this propertyMLS® 1302615
Welcome to 85 Airport Road, a unique investment and development opportunity in one of St. John's most strategic locations. Situated on a large mature lot measuring approximately 78' x 249' x 101' x 196', this property is mixed zoning Residential and Commercial Highway (CH) and offers exceptional flexibility for future residential or commercial uses while generating immediate rental income. The existing bungalow features two bedrooms, a four-piece bathroom, living room, dining room, and kitchen on the main floor. The fully developed basement includes a large rec room, third bedroom, laundry room, and storage area. Currently rented for $1,500 POU, the property provides income while future plans are explored. Outside, you'll find a detached 16' x 20' wired garage/workshop, storage shed, ample parking, and a private treed setting. Roof shingles have been replaced within the last five years. Located just minutes from St. John's International Airport, Stavanger Drive, major shopping, schools, recreation facilities, and the Trans-Canada Highway, this high-visibility property offers tremendous long-term potential. Whether you're seeking an investment property, business location, redevelopment opportunity, or land holding asset, 85 Airport Road presents a rare opportunity in a rapidly growing commercial corridor. Tenant occupied. A minimum of 24 hours' notice is required for all showings (id:56688)
Property details
Coordinates: [47.605297, -52.742297]
Rooms
| Basement | Bedroom Utility room Recreation room | 9.10X12.3 null 8.5X8.6 null 9X16.3 null |
| Main level | Kitchen Dining room Living room Bedroom Primary Bedroom | 13.7X10.3 null 8.6X10.6 null 20.5X12.6 null 9.10X12.3 null 10.10X13.9 null |
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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