131 Cheadle STREET W

Explore the possibilities at this prestigious building in the heart of downtown. Centrally situated, this property boasts excellent visibility, prominent frontage, and exceptional advertising potential along this bustling street. The curb appeal is remarkable, featuring a newly renovated exterior façade that exudes top-notch professionalism. This space is ideal for both investors and entrepreneurs. The property includes an outstanding long-term lease with a national company on the first level, leasing 13,500 square feet, while offering an additional 5,700 square feet of potential on the upper level. The main floor storefront area is cleverly designed for retail, featuring a spacious showroom with an upscale corner till and a substantial amount of storage behind, including a mezzanine area. Down the hall, you will find 1,160 square feet of office space, currently accommodating two private offices, a two-piece staff washroom, and ample open space, which can be utilized for a staff room or additional offices. The second story is partially utilized, with one office space currently rented out and five apartment suites (three one-bedroom and two bachelor suites) that are currently not in use, yet present an excellent opportunity to address the city's ongoing rental inventory shortage. The shop at the rear, added in the late 1980s, spans 8,100 square feet (90x90) and is currently used as a warehouse by the tenant. This steel frame building features a secure steel exterior and includes two overhead doors measuring 11x14 and 11.6x12, providing abundant storage space, a two-piece washroom, a loading dock at the back, and access to the main building. The basement is suitable for storage and houses two boilers for heating, with a hot water tank replaced in 2019. The building is equipped with two central air conditioning units, the roof was spray-foamed in 2017, and some windows have been replaced. For additional information or to schedule a viewing, please contact today. (id:67197)

Price

$690,000

Property Type

Retail

Transaction Type

For sale

MLS® Number

SK045988

Interior Size

19472 sqft

Year Built

1915

Ownership Type

Freehold

Building Type

Retail

Fireplace

No

Heating

Hot Water, Radiant heat

Interior Size

19472 sqft

Year Built

1915

Size Total

17250 ac

Acreage

Yes

Ownership Type

Freehold