New price
$699,000
301 Rue Laramée
Gatineau (Hull)
Gatineau (Hull)
Type
Commercial
Bedrooms
N/A
Living area
N/A
Bathrooms
N/A
MLS® 10640203
Property description
Mixed-use 3-unit building located in a sought-after area, offering an excellent combination of commercial and residential income. The property includes a commercial unit currently operated as a convenience store, benefiting from a net lease in place until 2032 with a renewal option, as well as two residential units on the upper floor: a 1-bedroom unit and a 1-bedroom plus office unit. With a gross rent multiplier (GRM) of approximately 10.7x times, this property represents an excellent investment opportunity for investors seeking a stable income-producing asset. Contact us for more information or to schedule a visit.
Sold without legal warranty, at the risk and peril of the buyerDetails
Located near
Highway, Other, Public transportation
Taxes and expenses
| Municipal | $11,399 |
| School | $369 |
| Gas | $500 |
Building and interior of the property
| Items included in the sale | Unit #1: stove and fridge. Unit #2: stove, fridge, dishwasher, washing machine and dryer |
| Items excluded in the sale | Water heater leased from Enbridge. The central air conditioner of the building was replaced by the depanneur owner. So technically it is belonged to them and should be excluded from the sale |
| Dimension of the front of the building | 11.46 metres |
| Dimension of the depth of building | 14.33 metres |
| Land area | 380.9 square metre |
| Dimension of the front of the land | 12.5 metres |
| Dimension of the depth of the land | 30.48 metres |
| Year built | 1901 |
| Municipal assessment (land) | $247,600 |
| Municipal assessment (building) | $254,600 |
| Municipal assessment (total) | $502,200 |
| Assessment year | 2027 |
| Irregular building | Yes |
| Available services | Natural Gas Connected, Sewer Connected, Water Connected |
| Building condition | Century |
| Business type | Convenience store |
| Distinctive features | Detached, Street corner |
| Driveway | Asphalt |
| Equipment available | Central air conditioning |
| Foundation | Poured concrete, Stone |
| Heating energy | Natural gas |
| Heating system | Forced air |
| Rental appliances | Water heater |
| Sewage system | Municipality |
| Siding | Brick, Vinyl |
| Structure type | Building |
| Water supply | Municipality |
Addendum
| Commercial Unit: - Currently leased at $3,008/month. - Net commercial lease in effect until 2032, including an option to renew for an additional five-year term. - Annual rent increases indexed to the Consumer Price Index (CPI). - The tenant is responsible for the following expenses: electricity, 60% of the building's gas bill, business insurance, interior and exterior maintenance, snow removal, and expenses directly related to business operations. - The owner is responsible for property taxes, building insurance, structural repairs, and 40% of the gas bill. - Lease providing excellent income stability and limited operating expenses for the owner. Residential Unit 1 -- 1 Bedroom: - Leased at $918.75/month, all included. Residential Unit 2 -- 1 Bedroom + Office: - Leased at $1,495/month. - Electricity is paid by the tenant. - Heating is included in the rent. Income: - Total gross monthly income: $5,421.75 - Gross annual income: $65,061 GST/QST: Approximately 50% of the purchase price is subject to GST/QST. GST/QST-registered buyers may be eligible to recover applicable taxes through Input Tax Credits (ITCs) and Input Tax Refunds (ITRs). Depending on the purchaser's eligibility and intended use of the property, the self-assessment mechanism may also eliminate the need for an upfront payment of applicable taxes at closing, potentially resulting in significant financial savings. Buyers are encouraged to consult their accountant and notary to confirm eligibility and the applicable tax treatment. |
