1009 Algonquin Avenue North Bay, Ontario P1B 4X9
$449,999
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a one-year lease and the other on a two-year lease. Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartment. All three will be vacant by August 30, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses of approximately $16,000 to $18,000 per year. At the asking price, the estimated cap rate is approximately 13.6%.If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look. (id:49269)
Property Details
| MLS® Number | X13707952 |
| Property Type | Business |
| Community Name | West End |
| Amenities Near By | Highway, Public Transit |
| Parking Space Total | 4 |
Building
| Bathroom Total | 5 |
| Cooling Type | None |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat, Baseboard Heaters |
| Size Exterior | 4015 Sqft |
| Size Interior | 4,015 Sqft |
| Utility Water | Municipal Water |
Land
| Acreage | Yes |
| Land Amenities | Highway, Public Transit |
| Size Depth | 100 Ft |
| Size Frontage | 34 Ft |
| Size Irregular | 4015 |
| Size Total | 4015 Ac |
| Size Total Text | 4015 Ac |
| Zoning Description | C4 |
https://www.realtor.ca/real-estate/30191805/1009-algonquin-avenue-north-bay-west-end-west-end
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August 24 2026 08:56:41
North Bay and Area REALTORS® Association
Revel Realty Inc. Brokerage