1/311009 ALGONQUIN AVENUE, North Bay (West End)
1009 ALGONQUIN AVENUE, North Bay (West End), ON P1B4X9
$399,999 total
4,015 SF
Asset Class
Specialty
Size
4,015 SF
Building class
B
Zoning
DC2 — Site Specific
$ / SF
$100
Occupancy
99%
Lot Size
4015 ac
About this property
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. (PRE-INSPECTED for your peace of mind) This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a month-to-month lease (all in one paint shop) and the other on a two-year lease (Manga Market). Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartments. All three units are vacant, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses (excluding mortgage) of approximately $16,000 to $18,000 per year. If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$2K
Projected NOI
$32K
Annual cash flow
$10K
Cash-on-cash
8.50%
DSCR
1.46
Going-in cap
8.09%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Rent roll (estimated)
| Tenant | Area | Expiry |
|---|---|---|
| Aurora Legal LLP | 2,497 SF | 2031-11 |
| Aurora Legal LLP | 1,486 SF | 2031-11 |
Area demographics
Trade area within 3 miles of the property.
Population
112,252
Households
44,037
Median income
$108,500
Median age
33.7
Daytime population
176,072
5-yr growth
1.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 1009 ALGONQUIN AVENUE, North Bay (West End).
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.