112 King Street, Prescott, ON

Description

Visit the REALTOR website for further information about this listing.Turnkey Fully-Leased Multi-Use Investment - Boutique Commercial + 10Apartments. An exceptional income-producing property in Prescott'sdesirable RiverWalk District-steps to the St. Lawrence River. Twobuildings (112 & 124 King) are sold together, offering a turnkey blendof commercial and residential revenue. 118 King Street was allocatedby the town for the residential units. The main commercial space-hometo Glitz, a popular destination offering individual boutique services-spans approx. 1,185 sq. ft. and features seven private treatment rooms,leased monthly to established service providers including spa, massage,cosmetic and specialty wellness offerings. The space provides a sharedwaiting room, powder room, and laundry. Commercial tenants are fullyleased and to be assumed by the new owner. Above and behind thecommercial storefront are 10 stylish one-bedroom apts, each renovatedto combine modern finishes with rustic charm. Units showcase exposedbrick, hardwood floors, open layouts, and updated marble-tiledbathrooms. All apartments include a fridge, stove, and offer strongall-inclusive rents ranging from $1,375-$1,800/mth. Fully leased andwell-maintained, they deliver stable, long-term revenue. The propertyunderwent significant upgrades from 2021-23, including new mechanicals,5 gas furnaces, 5 central air units, 2 gas hot water tanks, upgradedplumbing/electrical (800 AMP service), and triple-pane windows.Features include 9 paved tenant parking spaces, separate residentialand commercial entrances, balconies on upper levels, coin-operatedlaundry, alarm system, and excellent visibility on a high-traffic mainstreet. A rare opportunity to acquire a fully leased, updated asset ina prime downtown location-an ideal portfolio addition offering strongcash flow, modern infrastructure, and the coveted charm of Prescott'shistoric waterfront community. Contact the listing salesperson foradditional details.