202-212 St. George Street Moncton, New Brunswick E1C 5H1

$1,400,000

Exceptional investment opportunity to acquire a fully occupied, extensively updated mixed-use building in the heart of downtown Moncton. This 4,457 SF two-storey property includes two commercial units on the main level and three modern apartments on the second floor. The purchase includes an adjacent lot, providing additional tenant parking with ample street parking nearby. The building boasts 63' of frontage on St. George Street. The first commercial unit is 763 SF and currently operates as a retail/lounge space, while the second unit is 1,675 SF and functions as a lounge/nightclub featuring a wraparound patio. Both commercial spaces have seen significant updates and are equipped with mini-split heat pumps for efficient heating and cooling. The residential units consist of one one-bedroom unit and two two-bedroom units, each featuring modern interiors with wood cabinetry, quartz countertops, appliances, and a four-piece bathroom. All units have electric baseboard heating. Extensive renovations over $450,000 were completed in 2019-2020, including a full interior and exterior rebuild with new siding, windows, doors, and roof. Tenants are currently on year-to-year leases, providing immediate revenue while offering the flexibility for an owner-occupier to convert the space for their own business operations. The SBD zoning allows for a variety of uses, including retail, restaurant, microbrewery, or bed and breakfast. Financial details are available upon execution of an NDA. (id:19018)

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Building

Land

https://www.realtor.ca/real-estate/27988250/202-212-st-george-street-moncton