78 Melvin Av - Storefront Retail/Residential FOR SALE


Hamilton, ON L8H 2J5- Hamilton Central East B
$1,385,000 CAD
289-769-1920
78 Melvin Av, Hamilton, ON for Sale
$1,385,000 CAD
Storefront Retail/Residential - FOR SALE
1/10
null | 7.7% Cap Rate

78 Melvin Av
Hamilton, ON L8H 2J5
Hamilton Central East B


HIGHLIGHTS

  • Fully Renovated Top to Bottom, Inside and Out 2024. All permits closed, occupancy permit in place.
  • Main level tenanted, Upper residential units available fully vacant upon closing
  • 4.7% cap at approx. 50% leased, with 7+% projected when fully occupied
  • Basement currently vacant and also available for added value Retail
  • Recent Appraisal December 2024
  • Located in an up and coming area of Hamilton

OVERVIEW

Fully Renovated Mixed-Use Investment Opportunity With Lots of Room to Add Value and Income Property Overview: Unique investment opportunity with immediate cash flow and significant upside. Situated in a prime Hamilton location, this mixed-use building has been extensively renovated and completely updated throughout (permits in place). Recent appraisal confirms its market value and highlights the property’s strong potential. Key Features: Full List of Improvements available including renovation list, permits and drawings. - Every inch of this building has been thoughtfully renovated with attention to detail. The property boasts updated electrical, plumbing, roofing, and modernized interior finishes, ensuring minimal maintenance costs in the near term. Ground Floor: A well-established, fully-tenanted bar, providing reliable income. This business has been operating successfully, providing a steady cash flow stream for the new owner. Upper Residential Units (4br and 1br): Two vacant, beautifully renovated residential units ready for immediate occupancy. These units offer modern finishes and appeal to a wide range of potential tenants, from young professionals to families. Basement: A spacious, unfinished basement with tall ceilings that offers various possibilities for further development, additional retail rental income, or storage use. - Certificate of Zoning Verification - (was originally obtained for a proposed additional of a cannabis retail store in the basement) Recent Appraisal Available: The property has been recently appraised December 2024.

FOR SALE DETAILS

PRICE

$1,385,000 CAD

PRICE/SF

$300 CAD /SF

CAP RATE

7.7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

C2

APN/PARCEL ID

251805038402990

ASK ABOUT THIS PROPERTY

James KowalewskiRe/Max Escarpment RealtyMore Info
289-769-1920

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James KowalewskiRe/Max Escarpment RealtyMore Info
289-769-1920

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.