187 Main Street

$399,000 | APPROX. 12.34% CAP RATE | FULLY TENANTED | 5 INCOME STREAMSINVESTORS TAKE NOTICE! Fully tenanted, income-producing mixed-use investment property in North Bay offering FIVE established income streams under one roof. Featuring a large commercial space plus FOUR residential apartments, this property provides a diversified combination of commercial and residential rental income with tenants already in place.THE NUMBERS MAKE THIS ONE WORTH A LOOK. Annual gross income of approximately $72,626 with reported operating expenses of approximately $23,403 produces a Net Operating Income (NOI) of approximately $49,223. At the $399,000 asking price, this represents an approximate 12.34% capitalization rate based on reported expenses.Reported expenses include allowances for 3% vacancy and 5% maintenance. Property management and snow removal are not included and will vary depending on the purchaser's operating arrangements.Unlike vacant investment properties requiring a buyer to find tenants before realizing the property's full income potential, this building is FULLY TENANTED with five existing revenue streams. Four residential apartments provide a strong residential component while the commercial space adds an additional source of income and diversification.At $399,000, this is an opportunity for an investor to acquire an established North Bay mixed-use property with income already in place and an attractive return based on the current financial information.Financial information is based on seller-provided figures and stated allowances.The Seller does not represent or warrant the retrofit of the basement