Excellent opportunity to acquire a strong income-generating mixed-use property in the heart of Uptown Saint John. The property is currently tenanted with a restaurant occupying the first and second floors, generating $5,500/month in rent. The tenant is responsible for utilities (heat, power, water & sewer) and equipment maintenance, providing investors with a stable and attractive income stream. This 4-storey building offers approximately 1,700+ sq. ft. per level (approximate, to be verified). The first and second floors are zoned commercial, while the third and fourth floors are zoned residential, offering excellent potential for future residential development to increase overall returns. Any change of use or rezoning is subject to municipal approvals, allowing investors multiple long-term strategies. Situated on King Street in Uptown Saint John, this property benefits from a highly desirable urban location surrounded by major residential developments nearing completion. These projects are actively transforming the area, increasing population density, demand, and long-term property values. The property includes access and parking from Germain Street. Any chattels and/or equipment are to be confirmed in the Agreement of Purchase and Sale. secure a high-performing investment with immediate income and future upside in one of the most active growth corridors. Definitely worth a lookbook your showing appointment today. (id:4069)
Address
68 King Street
List Price
$599,000
Property Type
Other
Type of Dwelling
Other
Transaction Type
Sale
Area
New Brunswick
Sub-Area
Saint John
Floor Area
1,700 Sq. Ft.
Lot Size
1798 Sq. Ft.
MLS® Number
NB131977
Listing Brokerage
EXIT Realty Specialists
Postal Code
E2L1G4
Site Influences
Public Transit, Shopping
