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125 Elgin STREET
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Govan · Retail · under $125,000. Alerts only send when there are new or meaningfully updated matching homes.
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Ideally located near Last Mountain Lake, this versatile commercial property in Govan offers excellent potential for a variety of business ventures. Formerly a credit union and currently operating as an art gallery, the building provides 2,180 sq. ft. of functional space on a generous lot of over 9,000 sq. ft. The exterior features durable, low-maintenance metal cladding, while the rear of the property includes convenient parking with two electrical outlets. A 10' x 12' storage shed is also included, complete with an existing mower. Inside, the front entrance opens into a spacious, open-concept area currently used for art display, offering flexibility for retail, office, or showroom use. This main space connects to a secure safe, two additional rooms, and leads toward the rear of the building. Along the way, you’ll find a washroom and utility room. The substantial rear area expands your possibilities further, featuring a second washroom, a custodial room with sink, a kitchen area, and an additional safe. Most lighting throughout the building has been upgraded to energy-efficient LED fixtures. This well-maintained property presents a fantastic opportunity to establish or expand your business in a welcoming community close to the lake. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 1, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.