$750,000
501 W 3RD AVENUE
Beds
—
Baths
—
Sqft
—
Year
1920
About this home
Prime commercial two-storey building offering approximately 6800 square feet, situated in the heart of downtown, across from City Hall. This versatile property has a rich history of multifunctional use, having previously accommodated a mix of retail and offices. This expansive building presents endless possibilities for redevelopment, with potential for up to five multifamily units, because of its C1 zoning designation. The generous layout is designed to meet various business and residential needs. The top floor has panoramic views of the city skyline, the picturesque harbour, and majestic mountains beyond. Well-maintained throughout the years, newer roof, new furnace, and foundation upgrades, to name a few. Seize this exceptional opportunity to unlock its full potential in a rapidly growing area, perfect for investors and visionary developers! (id:65958)
- Subtype
- Retail
- Lot size
- 0.1 acres
- MLS#
- C8077851
- Area
- PRINCE_RUPERT
Cash on cash
-11.84%
Cap rate
3.52%
GRM
16.7
Break-even rent
$5,308
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.