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- LoopNet Team
202 W King St
Chatham-Kent, ON N7M 1E5
Office Property For Sale
PROPERTY FACTS
ABOUT 202 W KING ST , CHATHAM-KENT, ON N7M 1E5
Unique opportunity to own a perfect investment property in historic downtown Chatham. A 3-story Renovated Commercial building can be perfect for an End-User looking to occupy up to 11,000SF of prime downtown space. The 2nd and 3rd floor vacant space allows the building to be converted into profitable Mix-use property containing 12 condo-style apartments on upper and main level, with a AAA commercial tenant (Medical Office) on the lower level. 9 - 2BD and 3 - 1BD units are approved for construction. Reconstruction project can be started on a short notice by a local contractor. Building permits are in. The Expected Net Operating Income is Over $244,000. The After Renovation Value (ARV) is $2,300,000.00, Providing an Estimated 10.62% Cap Rate. Complete The Renovation While Capitalizing On The Cash Flow From A Long-Term Commercial Tenant On The Lower Floor. Projected Cap Rate Of 10%+ ! Elevator Access To All Levels, Including Rooftop Space (Potential Patio Space); New HVAC, Security System.
