188-192 Raglan Street S Renfrew, Ontario K7V 1R1
$539,900
Potential for $78,000 gross income! Two retail storefronts (fully leased) with HIGH CEILINGS plus a HUGE office space of 2500+sq ft upstairs (VACANT). DIAMOND in the rough... Flip property- CASH FLOW WHILE YOU RENOVATE! ADD VALUE or refinance or sell for a profit! Selling for just over $100 a sq ft. Current gross income : $48,000/yr ($2000 x 2 for retail spaces) - Expenses- approx;$17,804/yr (should be less). TOTAL CURRENT NOI: $30,196/yr. BUT... 2500 sq ft of office is vacant. Potential after $80-100k renovation is at least $12/sqft which equals $30,000 a year. $78,000 projected Gross Income. Do you want to use it for an OFFICE? If you keep as office upstairs and rent it at that rate the Projected NOI is $60,196/yr. EITHER WAY... This is can be your cash cow! Currently cash flowing without upstairs rented... RENOVATE while you GENERATE! 48hrs notice for showings - book now. (id:39840)
Property Details
| MLS® Number | 1325488 |
| Property Type | Retail |
| Neigbourhood | Renfrew |
| Parking Space Total | 4 |
Building
| Constructed Date | 1900 |
Land
| Acreage | No |
| Size Depth | 119 Ft ,7 In |
| Size Frontage | 51 Ft ,5 In |
| Size Irregular | 51.41 Ft X 119.58 Ft (irregular Lot) |
| Size Total Text | 51.41 Ft X 119.58 Ft (irregular Lot) |
| Zoning Description | Commercial |
https://www.realtor.ca/real-estate/25160035/188-192-raglan-street-s-renfrew-renfrew
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January 21 2023 02:11:06
Ottawa Real Estate Board
RE/MAX Hallmark Realty Group