About this propertyMLS® 1303858
Exceptionally well-maintained commercial/residential property located in the heart of Corner Brook. This versatile property is ideal for a professional medical practice, office space, spa, salon, or other service-based business. The main floor commercial unit was taken back to the studs and fully renovated approximately 7 years ago, and features new HVAC, all-new plumbing and upgraded electrical throughout the building, including a 200-amp service, along with modern high-end finishes. The space is wheelchair accessible with a certified ramp and two large exterior doors for convenient access. Inside, the main level includes a renovated bathroom with washer and dryer, two large rooms, and four additional smaller rooms. Each room is equipped with its own plumbing, GFCI outlets, ceramic wall finishes, waterproof laminate flooring, and dimmable lighting, along with independent heating and cooling in every room. The rooms are effectively soundproofed, making them well-suited for a variety of professional uses. On-street parking is available, and a nearby city-owned parking lot provides additional parking options. The upper level features a bright, self-contained 2-bedroom apartment with its own private entrance, original hardwood floors, and its own 100-amp electrical service. The apartment also includes dedicated on-site parking. The basement is dry, currently unused, and also has its own separate entrance, offering great potential for future development, additional workspace, or storage. Additional upgrades include newer siding and windows. With its prime location, extensive modern upgrades, and flexible mixed-use potential, this property presents an excellent opportunity for both business and residential income. (id:56688)
Specifications
Property details
Room by room
Rooms
The essentials
Location, air, flood & taxes
Elevation
25 m above sea level
Air quality now
AQHI 1 · Low risk
Corner Brook station · updated 2:00 a.m.
Property tax
$3,586 / year
≈ $299 / month · assessment year 2026
Climate
Feb -3° · Jul 22°
normal daily high · CORNER BROOK station · 1991–2020
Nearby & drive routes
19 places shown · OpenStreetMap · OSRM
Schools 5
Health 1
Groceries 4
Cafés 6
Parks 3
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Calculators & neighbourhood
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Mortgage & investment calculator
Estimated monthly payment
$299/mo
Principal & interest $0 + property tax $299 per month
Financing breakdown
Rental math
Investment calculator
Monthly cash flow
$-531
NOI / month
$-531
Cap rate
-1.50%
Gross yield
0.00%
| Line item | Monthly | Yearly |
|---|---|---|
| Gross rent | $0 | $0 |
| Mortgage | $0 | $0 |
| Property tax | $299 | $3,586 |
| Expenses | $233 | $2,796 |
| Vacancy | $0 | $0 |
| Management | $0 | $0 |
| Cash flow | $-531 | $-6,372 |
| NOI | $-531 | $-6,372 |
Flip rule of thumb: buy at ≤ 70% of ARV minus repair costs.
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- Office17 Duffy Place, Suite 200, St. John's
Keller Williams Platinum Realty
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