Business For Sale · Multifamily

223-227 West Street, St. Anthony

223-227 West Street, St. Anthony, Newfoundland & Labrador A0K4S0

$465,000 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

99%

Year Built

1935

About this property

For sale in the heart of St. Anthony, NL: the iconic Historic Clocktower Building—an established brewery and historic landmark offering 12,838 sq ft of mixed residential and commercial space on a 13,316 sq ft irregular lot at 223-227 West Street. Originally built in 1935 as part of the Grenfell properties and expanded in 1946, the connected buildings now feature the original bells in the tower, a fully operational taproom/bar/restaurant (5,170 sq ft) on the main floor, and a functional 5-barrel brewhouse with all equipment included in the basement. Renovated over the past 8 years, upgrades include a new roof (2017), refrigerated rooms on both floors, cold storage, ground-level delivery entrance with covered porch, updated office space, a wheelchair-accessible ramp and bathrooms, fire alarm system throughout, fire exit hallway and door, fully upgraded electrical with division potential, AED in hallway, and landscaping to create a waterfront seating area. The building also features a 900 sq ft studio apartment with bathroom, laundry, and appliances. Approximately 6,780 sq ft has been renovated, and architectural drawings are available for future development. This stand-alone property is serviced by town water and sewer and includes a private unpaved parking lot. Zoned for multiple uses—bar, brewery, distillery, lounge, restaurant, café, B&B, apartment rental, or boutique hotel—this prime location is across from the hospital, next to a grocery store, and within walking distance to major tourism attractions and just 50 km from the airport. St. Anthony thrives on seasonal tourism (May–October) and offers stable off-season rental income from healthcare workers and patients. Surrounded by nature, this vibrant fishing community is ideal for outdoor activities including hiking, kayaking, fishing, hunting, and skiing. A rare investment and business opportunity with rich history and strong potential. The building is sold as is where is. (id:66811)

Financial sandbox

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Estimate
Purchase price$465K
Down payment30% · $140K
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$24K

Annual cash flow

$-2K

Cash-on-cash

-1.28%

DSCR

0.93

Going-in cap

5.16%

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.

Area demographics

Trade area within 3 miles of the property.

Population

100,299

Households

44,873

Median income

$98,500

Median age

44.4

Daytime population

88,770

5-yr growth

9%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 223-227 West Street, St. Anthony.

NDA required
  • 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.