Revenue property - For sale - 1285 - 1325 Rue Cormier, Drummondville

----DESCRIPTION----
An investment opportunity or owner-occupier option not to be missed! Comprising 6 residential units and 10 commercial spaces. Located on a street corner on strategic, high-traffic arteries, with exceptional visibility, offering major advantages for its occupants. The owner-occupier will vacate their space, the "Prime Spot" of 10,000 sq. ft., by approximately July 1, 2025, providing additional rental potential estimated at $120,000 annually, thereby maximizing profitability. A solid asset in a sought-after area, ideal for optimizing your real estate portfolio or for your business!

----DETAILS OF THE UNITS----
Residential: 6 fully rented 4 1/2 residential units generating $3,975/month ($47,700 annually)
Commercial: 10 commercial units. The largest unit, approximately 10,000 sq. ft., is currently occupied by the seller's business. The business will be relocated due to the sale, making the space available for the future buyer or future rental. Pre-expense rental potential: $10,000/month. Available by approximately July 1, 2025. Another 600 sq. ft. unit has recently become available with a rental value of $700/month. Current commercial income (8 units): $9,064.51/month. Potential rental income, including the vacant unit and the large unit to be vacated: $19,764.51/month ($237,174.12 annually before expenses).

Note: The municipal taxes list 8 commercial units. Due to a commercial tenant reducing their space, the seller now has a smaller section for rent on the second floor. Also, the seller's business previously occupied another unit, which was re-rented to a third party with the city of Drummondville's approval in 2024, but this change might not have been reflected in the taxes yet.

----ADDITIONAL DETAILS----
--2 distinct addresses since the building is located on a street corner: 533 St-Pierre Street and 1285-1325 Cormier Street
--The building consists of two phases: the first phase in 1961 and the second phase in 1986
--Lintels replaced (2023)
--Part of the cement in the rear entry man door repaired (2023)
--Various general maintenance work (painting, doors, locks, replacement of an air conditioning unit, etc.)
--Heating system replacement and maintenance (2018)
--Roof repairs (2012 and 2018)
--Phase 1 environmental study in progress
--Tax and fee details are attached to the listing

Sold without legal warranty, at the buyer's own risk.
The information provided in this listing is for informational purposes and may vary. The characteristics, dimensions, and associated expenses should be verified by the buyer.
The buyer commits to verifying with the competent authorities, including but not limited to: laws, regulations, standards, etc., for any project or other intentions they may have for the property.