Middleton, Nictaux Real Estate

25-33 Commercial Street
400-Annapolis County Middleton B0S 1P0

$800,000
Commercial 10,604 sq. ft. built: 1941

Main Photo: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 1: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 2: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 3: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 4: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 5: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 6: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 7: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 8: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 9: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 10: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
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Photo 21: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 22: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 23: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Photo 24: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
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Photo 27: 25-33 Commercial Street in Middleton: 400-Annapolis County Commercial  (Annapolis Valley)  : MLS®# 202115892
Status:
Active
Prop. Type:
Commercial
MLS® Num:
202115892
Bus Major:
Residential Units
Exceptionally well-maintained and profitable income property in downtown Middleton, Nova Scotia. The property consists of two prime street-level commercial spaces, six residential 2nd floor rental units, and town-maintained parking for 25+ vehicles. Sale includes four PIDs (05081526, 05300181, 05300199, 05081591) with frontage on school street; potential for building lot may exist. All units have an excellent tenancy record, including long-term leases for the commercial units, and the entire building has been well-maintained/modernized over the years. Roof recently replace. A/C & alarm systems recent. Furnaces recent + fibreglass oil tanks 2017. Sump pumps 2015. Much exterior paint 2019. Unit 1 residential fully gutted/renovated 2020-2021. Most residential units have fresh paint & other misc upgrades. Potential to continue renovations to the remaining 5 units as tenants move out, and raise rent. Fire alarm systems inspected 2020+/-. Electric heat to upstairs, oil down. Town water/sewer. Current business tenants are Subway & Dollar Store; locked in for long-term leases. This is a turn-key investment opportunity with guaranteed income from the outset. Excellent capitalization rate. HST applicable. Seller to retain ROW for parking of four vehicles to benefit PID # 05081534. Desired closing Feb 28, 2022.
Listing Sub-Area:
400-Annapolis County
Property Type:
Commercial
Commercial Type:
Commercial Retail
Major Bus Type:
Residential Units, Shopping Centre, Vacant Land & Lots
Title To Land:
Freehold
Year built:
1941 (Age: 80)
Age:
80
Main Living Area:
10,604 sq. ft.
Floor Area:
10,604 sq. ft.
Prop Size:
0.5 to 0.99 Acres
Lot Size:
0.5 acre(s)
Lot Details:
23,245 sq ft
Zoning:
BD
Construction:
Block
New Constr.:
No
Parking:
Yes
Driveway:
Parking Spaces(s), Paved
Parking Description:
Parking for 25+/- vehicles
# Floors:
2
Floor Finish:
Wood, Other
Roof:
Asphalt Shingle
Heating:
Baseboard, Hot Water
Fuel:
Electric, Oil
Fire Protection:
Monitored Alarm System, Smoke Detector
Water Supply:
Municipal
Utilities:
Cable, Electrical, Municipal Water, Sewer, Telephone
Lighting
Highway Access, Public Transportation, Shopping Nearby, Visual Exposure, Public Parking
Air Conditioning, Security System, Window Display, See Remarks
None
No
Rental Income:
Yes
Net Income:
64220.91
Gross Revenue:
100873.50
Total Expenses:
36652.89
Lease 1 - Type:
# Residential Units
Lease 1 - Net Rental Area:
5302 sq ft
Lease 1 - Expiration Date:
Various
Lease 1 - Occupant:
6 residential tenants
Lease 1 - Rental Rate:
47,664 / yr
Lease 2 - Type:
Retail
Lease 2 - Net Rental Area:
2651 sq ft
Lease 2 - Occupant:
Subway (Commercial)
Lease 2 - Rental Rate:
26,196 / yr
Lease 3 - Type:
Retail
Lease 3 - Net Rental Area:
2651 sq ft
Lease 3 - Occupant:
Dollar Store (Commercial)
Lease 3 - Rental Rate:
25,822.50 / yr
Possession Info:
February 28, 2022 ideal
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Listed by RE/MAX Banner Real Estate
Data was last updated December 3, 2021 at 03:20 AM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$649,500
Min list price:
$149,000
Max list price:
$1,500,000
Avg days on market:
99
Min days on market:
1
Max days on market:
412
Avg price per sq.ft.:
$100.69
These statistics are generated based on the current listing's property type and located in Annapolis Valley. Average values are derived using median calculations.
PETE DOOKS
KAREN DOOKS