$1,900,000
Available - For Sale
Listing ID: X12794042
218 Joseph Street , Central Elgin, N5L 1C4, Elgin
| 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. |
| Price | $1,900,000 |
| Taxes: | $7842.30 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 218 Joseph Street , Central Elgin, N5L 1C4, Elgin |
| Postal Code: | N5L 1C4 |
| Province/State: | Elgin |
| Directions/Cross Streets: | JOSEPH STREET & COLBORNE STREET |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Multi-Use |
| Use: | Retail Store Related |
| Building Percentage: | T |
| Total Area: | 4548.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 1529 |
| Office/Appartment Area Code: | Sq Ft |
| Retail Area Code: | Sq Ft |
| Approximatly Age: | 51-99 |
| Sprinklers: | No |
| Washrooms: | 4 |
| Heat Type: | Other |
| Central Air Conditioning: | Yes |
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| THRIVE REALTY GROUP INC. |
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Wally Islam
Real Estate Broker
Dir:
416-949-2626
Bus:
416-293-8500
Fax:
905-913-8585
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At a Glance:
| Type: | Com - Commercial Retail |
| Area: | Elgin |
| Municipality: | Central Elgin |
| Neighbourhood: | Port Stanley |
| Approximate Age: | 51-99 |
| Tax: | $7,842.3 |
| Baths: | 4 |
| Fireplace: | N |
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