218 Joseph Street,Central Elgin (Port Stanley), ON N5L1C4
Central Elgin (Port Stanley), ON N5L1C4
Description
Rare opportunity to acquire a landmark, income-producing property in the heart of Port Stanley's downtown core. The former Port Stanley Fire Hall has been extensively redeveloped into a modern commercial marketplace with an executive residential apartment above, creating a unique and diversified investment asset.The building comprises approximately 4,548 sq. ft., including 3,019 sq. ft. of main-floor commercial space and a 1,529 sq. ft. two-bedroom residential apartment on the second level. Originally constructed in 1974, the property has undergone over $1,000,000 in recent capital improvements, effectively replacing all major building components and delivering a near-new condition asset.The main floor is 100% leased as a curated marketplace, featuring a central corridor layout with multiple vendor stalls, excellent pedestrian flow, providing walk-up access, and upgraded common areas including men's and women's washrooms. The space has been thoughtfully designed to support long-term tenancy, flexibility, and strong foot traffic.The upper-level apartment offers two bedrooms, two bathrooms, an open-concept kitchen with island, quality appliances, living area, private entrance, gas fireplace and a private outdoor terrace with gas BBQ. Finishes are modern and professional, suitable for executive or long-term rental occupancy. Mechanical and electrical upgrades include 400-amp service, multiple hydro meters, generator, new HVAC systems, new roof, new plumbing, accessibility improvements, and new stormwater pipe. The property is zoned B1 (Business Zone) and benefits from exceptional exposure to both pedestrian and vehicular traffic in Port Stanley's central business district.This is a stabilized, income-generating investment with additional upside through tenant turnover, rental optimization, and long-term appreciation in one of Southwestern Ontario's most sought-after waterfront communities. Financial information available upon execution of a confidentiality agreement. (id:13843)
Details
| MLS # | X13473294 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 134 |
| Listing Provided By | THRIVE REALTY GROUP INC. | JAMES MCGUIRE |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 4,548 |
| Zoning | BUSINESS ZONE 1 (B1) / MIXED USE |
| Acreage | 0.11 |
Interior
| Cooling | Fully air conditioned |
|---|---|
| Heating | Forced air, Natural gas, Other |
| Fireplace Yes / No | No |
Parking
| Parking Total | 1 |
|---|
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 7842.3 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Central Elgin (Port Stanley) |
| Postal Code | N5L1C4 |
| Listing VS Median (in N5L1C4) | |
Price: $1,700,000 low | high Med: $1,700,000 sqft: 4,548 low | high Med: 4,548 $ / sqft: $374 low | high Med: $374 On site: 134 low | high Med: 134 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Central Elgin (Port Stanley) |
| Postal Code | N5L1C4 |
| Listing VS Median (in N5L1C4) | |
Price: $1,700,000 low | high Med: $1,700,000 sqft: 4,548 low | high Med: 4,548 $ / sqft: $374 low | high Med: $374 On site: 134 low | high Med: 134 | |
