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Investment signal

$599,900

264 FIRST STREET

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Beds

—

Baths

—

Sqft

1,664

Year

—

Type

Retail

Suite

Investment signal

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Midland. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Great investment opportunity in a high-exposure Midland location with ample parking and strong income potential. Mixed-use building featuring two commercial units (approx. 800 sq ft each) and one spacious two-bedroom residential apartment. Both commercial units include separate hydro meters and 2-piece bathrooms, and have been recently updated with new flooring, paint, and fixtures. Front commercial unit to be delivered vacant, offering flexibility for owner-occupier or investor. Second floor residential unit extensively renovated with new LVP flooring, kitchen cabinetry, appliances, quartz countertops, and updated bathroom and light fixtures. Open-concept layout. All units equipped with electric Napoleon split systems providing heating and cooling. Residential unit includes six appliances. There are three separate hydro meters. The property offers excellent visibility and versatility for investors or end users. Buyer to verify all measurements, zoning, and permitted uses. (id:65958)

Subtype: Retail
Community: Midland
Living area: 1,664 square feet
Lot dimensions: Bldg=72 x 50 FT
On market: Apr 10, 2026
Status changed: Apr 21, 2026
Annual tax: $4,039 (2025)
Zoning: DCF2
Photos: 49
MLS#: S12983474
Area: MIDLAND

Features and systems

Appliances

WasherDishwasherDryerMicrowave

Heating

Baseboard heatersOther

Cooling

Fully air conditioned

Negative cash flow ~$687/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.87%

Cap rate

3.49%

GRM

16.7

Break-even rent

$3,723

Financing

Down payment$119,980

Loan amount$479,920

Mortgage$2,432/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$275

Insurance$80

Maintenance$500

CapEx reserve$250

Vacancy loss$150

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $2,432/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 21, 2026.