52-62 Gerrish Street

Description

Well-positioned mixed-use investment property offering current income with exceptional development potential. Located in Windsor, one of the Annapolis Valleys fastest-growing communities. The main floor features two established commercial/retail units (approx. 3,000 sq ft), both currently occupied. A large front display window enhances visibility and street presence, making the retail/office space well-suited for a wide range of businesses. Unit 1 has a large open office/reception area, a washroom, 3 offices (one currently being used for storage, and a 4th large boardroom/office area. Unit 2 has a spacious reception area, two office spaces, and a washroom. Also on the main level, Unit 3 is a previously rented, currently undeveloped commercial/warehouse area with direct access from Stannus Street. This space includes multiple rooms and a kitchen area and offers excellent development potential. The second floor offers two, 2-bedroom residential apartments, with tenants responsible for their own heat/electricity. The entire third floor, approximately 2,000 square feet, remains undeveloped and presents a rare opportunity for expansion, such as additional residential units, subject to buyers plans and approvals. This property includes two PIDs, with the second PID comprising a parking lot accessible from Stannus Street, a valuable asset for both commercial and residential tenants. Situated in the center of town, with excellent exposure, this property is well-suited for investors seeking a combination of stable income, value-add potential, and long-term growth in a thriving Annapolis Valley community. (id:56844)

Listing

MLS® number

202602489

Status

Active

Days On Market

263

Building

Year built

1926

Above grade

9,522 sq ft

Exterior

Concrete block, Masonry, Concrete Walls

Features

Living Accommodation

Interior

Flooring

Concrete

Heating

Baseboard heaters, Electric

Cooling

Window air conditioner

Land

Lot size

0.19 acres

Community

High Traffic Area

Parking

Type

Paved Yard, Parking Space(s)

Utilities

Water

Municipal water

Business

Business type

Other, Residential

Fees and taxes

Common interest

Freehold

Parcel number

45057445

Directions

Exit 6 off Hwy 101, right on Upper Water St, left on Gerrish St to civic on RHS