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$449,999 total
2,535 SF
Asset Class
Retail
Size
2,535 SF
Building class
B
Zoning
CB1 — Low Intensity Business
$ / SF
$178
Occupancy
84%
Welcome to Your New Investment Opportunity! Nestled in the heart of Midland, this stunning classic-century downtown building is a piece of Midland's history and awaits your vision. Starting from a blank canvas, this property overflows with charm, promising an exciting venture for savvy investors. Commercial Space is Available and ready for your creative touch! Picture the possibilities: whether it's a boutique shop, a cozy café, a Pho House, or a trendy gallery. The choice is yours! Upper Floors: With a 3 bedroom 2 Bath Apt. Imagine waking up to the sun streaming through the windows. These upper levels can be transformed into your dream home, or even maybe a charming Airbnb retreat. The views of the bay from select windows are simply breathtaking. As this town blossoms into a vibrant hub, you'll be at the epicentre of growth. Explore the downtown core, stroll along the town docks, and unwind in the nearby parks. The arena, curling club, YMCA, and Little Lake Park are all within reach. Main Floor Highlights: Hardwood Floors, Gas Fireplace, Original Trim & Pocket Doors, Two Public Washrooms, Convenience for patrons and a Large Front Patio Perfect for outdoor seating. **Parking**: No worries! Ample parking awaits out back. **Recent Upgrades**: Roof Replaced (2020)**: Peace of mind for years to come. - ** Paved Driveway** Wall-Hung Boiler with Glycol**: Efficient heating. - **50-Gallon Hot Water Tank**: Always ready for your needs. Don't miss out on this prime investment opportunity. This charming building is your gateway to a bright future! (id:66811)
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Monthly debt service
$2K
Projected NOI
$20K
Annual cash flow
$-5K
Cash-on-cash
-3.45%
DSCR
0.81
Going-in cap
4.51%
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.
| Tenant | Area | Expiry |
|---|---|---|
| Aurora Legal LLP | 897 SF | 2027-10 |
| Aurora Legal LLP | 519 SF | 2027-10 |
| Aurora Legal LLP | 400 SF | 2027-10 |
| Aurora Legal LLP | 406 SF | 2027-10 |
Trade area within 3 miles of the property.
Population
40,812
Households
19,274
Median income
$108,000
Median age
46
Daytime population
57,723
5-yr growth
2.9%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 342 KING STREET, Midland.
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.