256-258 Scott ST, Fort Frances, Ontario, P9A1G7

Property Description

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:64974)

Quick Facts

• Property Type: Multi-family
• Bedrooms: None
• Bathrooms: None
• Living Area: 4,596 sq ft (427.0 m²)
• Frontage: 25 ft (7.7 m)

Costs

• Annual Taxes: $5,285.00

Listing Provided by: CENTURY 21 NORTHERN CHOICE REALTY LTD.
Board: Thunder Bay Real Estate Board
Data provided via CREA DDF®.