Chris Cipriani
28
$1,499,000 Sale
Listed 4 days ago
14 CAITHNESS STREET E
· 0
· 6.0
· 8
· 8688
Key Facts
Key facts for 14 CAITHNESS STREET E
Property Type
Commercial
Parking
Garage: No, 8 parking
MLS #
X13876994
Size
8688 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
A five-unit mixed-use building in the Caledonia downtown core, offering approximately 8,700 square feet of enclosed area - 5,143 above grade across two floors, plus 3,545 of income-producing lower level. The rent roll comprises two commercial tenancies and three residential units, with a fourth grou...nd-floor residential unit currently vacant and unfinished. Major capital is recent and complete: roof (2023), heat pump (2024) and furnace (2025).The opportunity sits in the gap between in-place and achievable income. The leases are gross and legacy-dated, one ground-floor unit is unlet, and a substantial portion of the lower level has never been allocated to a tenancy. Restructuring the tenancies on current market terms -including expansion of the ground-floor retail demise into the adjoining rear space - supports a net operating income of approximately $95,000, a 6.35% return at the asking price, for roughly $12,000 of landlord work. Zoned CD, Downtown Commercial. (id:10452)
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Listing courtesy of: RE/MAX ESCARPMENT REALTY INC.
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