$869,000

400-408 Talbot Street

St. Thomas ON, N5P 1B8

Description

Large quality commercial building. Totally renovated to meet federal government standards. Elevator. Security systems can be assumed. Wired for computers & LAN room climate controlled. Solar panels on roof generate about $6,000/year. Buyer will need to obtain approval to assume contract. Tenant,Employment Services Elgin occupies 4471 sq ft of first & second floor of 400 Talbot as of April 1, 2020 for 3 years (plus 3 board rooms in basement). Tenant,Family Service Thames Valley,occupies small office of second floor at 406-408 Talbot.The owner,Community Living Elgin, occupies 406-408 Talbot (& board room/shared baths in 400 Talbot). Yearly gross rents about $148,000 (solar not included). The Owner is non-profit organization,exempt from paying realty taxes. 2019 assessment of 400 Talbot is $397,500; 406-408 Talbot is $331,750 x 2019 commercial mill rates,taxes for 2019 would be $28,191.56.Seller wishes to vacate their space on closing but might consider staying on for a short term lease.

Details

MLS#229821
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Days On Site47

Features

Story(s)0
Units1

Loading Form

Loading Form

Area Information

ProvinceON
CountyElgin
CitySt. Thomas
Postal CodeN5P 1B8
AreaSt. Thomas
Listing VS Median (in N5P 1B8)
Price:
$869,000
low | high
Med:
$869,000
50% of Average
On Site:
47
low | high
Med:
47
100% of Average
Listing Updated: 05/25/2020
MLS Number: 229821
Listing Provided By:
CHRIS PINCOMBE  of  ROYAL LEPAGE TRILAND REALTY
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.