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1518 Dresden Row in Halifax: 2-Halifax South Commercial (Halifax-Dartmouth) : MLS®# 201827034

1518 Dresden Row Halifax B3J 2K2 : 2-Halifax South

Main Photo: 1518 Dresden Row in Halifax: 2-Halifax South Commercial  (Halifax-Dartmouth)  : MLS®# 201827034
$1,800,000
Prop. Type:
Commercial
MLS® Num:
201827034
Status:
Active
Bus Major:
Residential Units
This is a rare opportunity to be part of the modernization and gentrification of our beautiful city. This property, located in the bustling Spring Garden district, is both ideally situated to expand and develop, but also to reap rewards in doing so. Located directly across from Pete's Froutique on Dresden Row, close to many new developments and boasting a large city lot, the possibilities are literally endless. Either assume the ownership and continue to earn good income from the Chinese Restaurant (long term tenant), couple with two residential units currently rented out in short term rentals, or take the plunge and put on your developer's hat and make your mark in the middle of the most recently Halifax Boom! With the zoning and the size of the lot you could build 10 storey's by right, or apply to the city for extra floors with the addition of further green space and other amenities. There's a large fork in the road - you take the plunge and start construction, or be part of preserving one of downtown Halifax's few remaining 19th century properties. Move quick, this one won't last long.
Sackville Street to Dresden Row to civic address
Listing Sub-Area:
2-Halifax South
Property Type:
Commercial
Commercial Type:
Commercial Retail
Major Bus Type:
Residential Units, Restaurant
Title To Land:
Freehold
Year built:
1900 (Age: 118)
Main Living Area:
Switch units of measure3,250 sq. ft.
Total Living Area:
Switch units of measure3,250 sq. ft.
Prop Size:
Under 0.5 Acres
Lot Details:
3237 sq ft
Zoning:
HD-1
Construction:
Stone
Parking:
Yes
Driveway:
Paved, Single
Parking Description:
Single, paved
Floor Finish:
Wood, Other
Roof:
Asphalt Shingle
Heating:
Hot Water, Radiant
Fuel:
Oil
Fire Protection:
Hydrant
Water Supply:
Municipal
Utilities:
Cable, Electrical, Municipal Water, Natural Gas, Sewer, Telephone
Fully Fenced, Lighting, Outside Storage
Public Transportation, Shopping Nearby, Visual Exposure, Fenced, High Traffic Location, Public Parking
Intercom, Living Accommodations
None
No
Rental Income:
Yes
Net Income:
80,000
Gross Revenue:
120,000
Total Expenses:
40,000
Business Tax Payer:
Tenant
Property Taxes Payer:
Owner
Heating Payer:
Owner
Hydro Payer:
Owner
Water Payer:
Owner
Insurance Payer:
Owner
Structural Maintenance Payer:
Owner
Exterior Maintenance Payer:
Owner
Interior Maintenance Payer:
Tenant
Lease 1 - Type:
Other
Lease 1 - Net Rental Area:
50%
Lease 1 - Expiration Date:
Annual
Lease 1 - Occupant:
Jiang Nan Restaurant
Lease 1 - Rental Rate:
5000/month
Lease 2 - Type:
# Residential Units
Lease 2 - Net Rental Area:
25%
Lease 2 - Expiration Date:
Monthly
Lease 2 - Rental Rate:
2000/month
Lease 3 - Type:
# Residential Units
Lease 3 - Net Rental Area:
25%
Lease 3 - Expiration Date:
Monthly
Lease 3 - Rental Rate:
3000/month
Possession Info:
Negotiable
Listed Date:
Nov 13, 2018
Days on Mkt:
29
Listing information last updated on November 18, 2018 at 07:23 PM (UTC)
Andrew Murray
Angela  Leaman