This development opportunity is ideal for a seasoned investor! The building has a wealth of potential for the right person. Built about 1878 with the top storey added in 1914, The Standard Building (also known as the Odeon Garson Theatre) is a good example of Italianate commercial architecture. The building is situated on arguably the best block in the city! The street has lots of local and tourist street traffic. The ground floor is home to three leased commercial spaces (1 is vacant) generating $7145/month (you may know them as Java Moose & Pub Down Under). Already constructed; a stunning penthouse suite and 2- two bedroom apartments that come with a total of 2 parking spaces. Current rents are: Apt 3 vacant (expected rent $1550), Apt 4 $1550 and the Penthouse is being set-up for short-term rentals. TENANTS PAY POWER! The real treasure lies on the 2nd & 3rd floors, which have been gutted to the studs. The previous owner designed these floors to house 7 apartments on each floor. However the potential is unlimited for a savvy developer. It is zoned CU. With a consistent income of $8695/month while creating new opportunities on the 2nd and 3rd floor represents a sound investment. The building is currently not profitable, Come explore the possibilities of this incredible uptown building and discover the potential for greatness. Newly updated water main line from street to building! (id:4069)
Address
80 Prince William Street
List Price
$1,500,000
Property Type
Other
Type of Dwelling
Other
Transaction Type
Sale
Area
New Brunswick
Sub-Area
Saint John
Floor Area
23,128 Sq. Ft.
Lot Size
8019.11 Sq. Ft.
MLS® Number
NB132031
Listing Brokerage
RE/MAX Professionals
Postal Code
E2L2B3
