12 ST CATHARINE STREET, St. Thomas

Unique investment opportunity in the Downtown Core of St Thomas. Both properties are exclusively being sold together. A VACANT 6300 Sq Ft building and a 41ft by 109ft rear lot (currently being rented as a parking lot). Both lots are under the same C2 zoning allowing for full commercial, full residential or mixed use. Architectural plans to convert the entire building into 11 residential units is included in the listing documents. After development, this would be an excellent candidate for refinancing under CMHC with a strong cashflow and no rent control. The rear lot would also provide sufficient parking for all units or can be redeveloped. Property is serviced by municipal water & sewers, natural gas and hydro. Building includes 6 breakers, 6 hydro meter bases, 3 gas meters, 3 furnaces and 8 existing points of entry. Excellent visibility in a family-friendly neighbourhood within steps to City Hall, Public Library, Westlake Evans Park, YMCA daycare, retail stores, restaurants, bars and public transit. (id:56071)

Appliances:  Water Heater
Rental Equipment:  
Directions:  St Catharine St and Talbot St
Zoning Description:  C2
Interior Size:  4999.958 - 99999.6672 sqft
Lot:  32 FT ; Front lot 32 xIrreg. Rear lot 41 x109 |under 1/2 acre 32 FT ; Front lot 32 xIrreg. Rear lot 41 x109
Water:  Municipal water, Sanitary sewer
Heating / Cooling:   Natural gas /
Age: 
Foundation: Block
Basement:  N/A (Unfinished) Unfinished

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