114-118 Main Street St. Lunaire-Griquet, Newfoundland & Labrador A0K 2X0
$199,900
Welcome to an extraordinary investment opportunity on the GNP. This former 25,000 sq ft school building, situated on nearly 4 acres of land, offers immense potential and a range of possibilities. -Solid Structure and Enhancements: Constructed in 1969 with a large wing added in the mid-70s, this building showcases quality craftsmanship. Substantial investments were made, including an apex roof added in 2002 and comprehensive stabilization measures in 2004/2005, ensuring a secure and reliable structure. -Breathtaking Views: The property boasts stunning views of the bay. -Potential for RV Park: The cleared grounds are an ideal opportunity to establish a much-needed RV park. Can take up to 10 RVs. -Versatile Interior: The building features numerous classrooms, a full gymnasium with a stage, and a former community library complete with books. -Accommodation Potential: With modifications, the building could have 15 1-bedroom units or 25 hotel-style rooms. Income potential for short-term rentals projected to yield $175-$225 per night per room or around $900 per month long-term per room. -Established Rentals: The property currently offers 3 short-term rental units,"Bayview Suite" and "Garrigus Room." and a third unit. In addition to a spacious 1 bedroom apartment (that could easily be converted to 2 apts). These units have high demand, with the "Bayview Suite" receiving Booking.com's highest rating. -Proximity to Tourist Attractions: Minutes away from the World Heritage Viking site, the property benefits from a steady stream of tourists, ensuring consistent demand for accommodations throughout the tourist season. -Winter Income Potential: The high demand for student accommodations at nearby CONA can be tapped into, providing a reliable source of revenue during the off-season. -Multiple Entertainment Options: The building offers gaming arena with activities like paintball, airsoft, and Gellyball as well as an axe-throwing room and a party room, catering to all. (id:51189)
Business
| BusinessType | Other, Residential, Service, Arts and Entertainment |
| BusinessSubType | Mixed - IC&I, Residential, Miscellaneous services, Entertainment |
Property Details
| MLS® Number | 1275520 |
| Property Type | Retail |
| AmenitiesNearBy | Recreation, Shopping |
| ViewType | Ocean View, View |
Building
| Amenities | Recreation Centre, Exercise Centre, Laundry Facility, Living Accommodation |
| ConstructedDate | 1969 |
| CoolingType | Air Exchanger |
| FlooringType | Carpeted, Laminate, Mixed Flooring, Other |
| HeatingFuel | Electric |
| HeatingType | Baseboard Heaters, Radiator, Space Heater |
| SizeInterior | 25000 Sqft |
| Type | Commercial Mix |
Land
| AccessType | Rail Access, Right-of-way, Year-round Access |
| Acreage | No |
| LandAmenities | Recreation, Shopping |
| LandscapeFeatures | Partially Landscaped |
| SizeIrregular | 3.8 Acres |
| SizeTotalText | 3.8 Acres |
| ZoningDescription | Com/res |
https://www.realtor.ca/real-estate/27232383/114-118-main-street-st-lunaire-griquet
Interested?
Contact us for more information
Michael Samson
(709) 522-6350
33 Pippy Place, Suite 304
St. John's, Newfoundland & Labrador A1B 3X2
(709) 800-0412
Justin Hollett
(709) 522-6350
33 Pippy Place, Suite 304
St. John's, Newfoundland & Labrador A1B 3X2
(709) 800-0412
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July 30 2024 07:11:58
The Newfoundland & Labrador Association of REALTORS®
Keller Williams Platinum Realty
