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580 Waterloo ST London East, ON N6B 2P9
3,022 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 3,022 sqft
Subdivision East F
MLS Listing ID X12969880
Annual Tax Amount $13,773
Tax Year 2025
Property Sub-Type Office
Property Description
Fantastic opportunity for investors or business office with income to cover expenses. Welcome to 580 Waterloo St., a freestanding, mixed use 2 story building, with many updates and improvements. The main and upper floors comprising of 2275 Sq Ft of office space, and 2 residential units in the basement. The upper office tenant is currently leased until August 31, 2026 and main floor office tenants renewed their lease for another 3 years until December 31, 2028. with an option for either party to terminate with 6 months notice. An ideal situation for an investor to occupy or pick you own tenants and lease. Current financial information is based on present income and potential market rents. Office tenants pays electricity, gas and water. Residential tenants rent includes $95/$79 toward water. Some of the updates include furnaces, central airs and water heaters. Replaced rear porch. Renovated front porch. Replaced commercial outside doors (front & rear). Outside lighting, brick repointing and replacement as needed. Replaced rear eaves and downspouts. Updated one basement res unit after tenant vacated. Gross Income $85,728 net Income $63,536.. for a 6.3 Cap rate
Location
Province ON
County Middlesex
Area Middlesex
Zoning R3-2 OC2
Interior
Cooling Yes
Exterior
Community Features Public Transit
Utilities Available Yes
Lot Frontage 53.0
Lot Depth 131.0
Building
Building Age 51-99
Others
Security Features No
ParcelsYN No
Listed by PRIME REAL ESTATE BROKERAGE
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145 Wharncliffe Rd S, London, ON N6J 2K4, CAN
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