256-258 SCOTT STREET

About this home

Excellent investment opportunity with strong income potential! This well-maintained commercial building, formerly home to The Pink Parasol Tea Room, is in great condition and offers numerous upgrades throughout. The main floor features a bright, inviting commercial space complete with a kitchenette, built-in seating, and a fully accessible washroom. A full basement provides additional space for storage or office use, along with a second washroom. Security alarm and camera system equipment are included. The upper-level commercial space is currently tenanted with a signed 2-year lease beginning November 2025. Two residential units are also in place on month-to-month tenancies, and main floor has a 2 year lease starting June 2026, offering immediate income with future flexibility. Extensive updates include a new roof (2024), renovated apartments (2019), kitchenette addition (2024), updated LED lighting (January 2021), and new flooring and ceiling throughout the main floor (January 2021). A recently added rear staircase and four dedicated parking spaces further enhance accessibility and functionality. A turnkey, income-generating property with solid returns and quality updates throughout, ideal for investors or owner-operators. (id:66966)

Details

Type

Retail

Property tax

$5,285

Municipality

Fort Frances

Interior

Fireplace

No

Appliances

Washer, Dryer

Heating, cooling and services

Heating

Natural gas

Air conditioning

Fully air conditioned

Utilities

Cable, Telephone, Natural Gas Available, Electricity Connected

Building and exterior

Foundation

Poured Concrete

Outdoor

Concrete

Parking

Total parking

4

More

Business type

Retail and Wholesale

Location

Location is approximate. See nearby homes on the map