Superb building in Plateau Mont-Royal, close to all services and amenities as well as the Sherbrooke Metro. Composed of a restaurant on the ground floor, offices on the 2nd and 3th floor and a 3 ½ apartment on the 4rd floor. The building has been renovated with quality materials and it is possible to extend the apartment. Good income, excellent investment opportunity !! Do not miss !
- The building is not 100% empty, the restaurant on the ground floor pays $60,000 in rent per year
- 25% of the building is residential (the 4th) and it can easily be 75% residential
The commercial portion will be plus applicable taxes.
The 2nd and 3th floor lease's end by August 31th 2022. No renewal.
Note that on the financial statement, Income does not include potential income for the 4th who is worth at least $2,500 per month.
Electricity accounts on the ground floor, 2nd and 3rd floors are paid by the tenants, as indicated in the leases.
The buyer will have to verify with the city the possibility of converting the commercial space into residential space, the seller himself converted the 4th floor from commercial to residential when purchasing the building in 1996.
The building was purchased to house the sellers' company: Gestimed. They sold this one in September 2019 and retired.
Much work has been carried out over 25 years:
- electricity and plumbing have been redone on all floors
- the windows of the facade
- the ground floor and the 2nd floor have been 100% redone
- the 3rd and 4th have been 70% redone
- supporting walls have been modified on the ground floor, 2nd floor and 4th floor
Highway , Metro , Commuter train , Public transportation
Commercial , Residential
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My name is JOELLE BITAR, RE/MAX real estate broker. How may I help you?
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