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$ 599,900
Est. payment /mo
Price Dropped by $50K
208 Mary ST Hamilton, ON L8L 4V8
3,642 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 3,642 sqft
Price per Sqft $164
Subdivision Beasley
MLS Listing ID X14091280
Annual Tax Amount $8,375
Tax Year 2026
Property Sub-Type Investment
Property Description
Pay for the apartments, get the storefront almost free. This corner mixed-use property in Beasley, steps from downtown Hamilton, offers about 3,642 sq ft for $649,900, about $178 a sq ft. Upstairs: two renovated 2-bedroom suites with quartz counters, open living space, pot lights and wall-mounted A/C, both tenanted at $1,775/month, with tenants paying their own hydro. Main floor: about 1,660 sq ft of corner commercial space with large shop windows, rented as storage at $1,000/month. Gross income is about $54,600 a year. Seller-reported costs are about $18,775 a year, for a net operating income of about $35,825: a 5.5% cap rate at list price. Value-add: raise the suites to market on turnover, re-let the main floor as retail and buy out the rental equipment, and the pro forma cap rate is about 7.4%. Owner-users: run your business from the storefront while the two suites carry most of the costs. Legal, conforming duplex over commercial per the seller, zoning D/S-378. Hamilton's Mid-Rise Residential Zones Project (Phase 2) is before Planning Committee. Proforma available. Buyer to verify all figures, zoning, permitted uses and redevelopment potential.
Location
Province ON
County Hamilton
Area Hamilton
Zoning D/S-378
Interior
Cooling Yes
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Building
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