property search Details

Property Type: Building
Zoning Type: Commercial
221-223 Water Street, Summerside, PE, C1N 1B4

Excellent investment opportunity available in Summerside's Downtown. This property includes office space, 20 furnished micro suites, plus retail space currently leased to a restaurant. This unique, urban property is in the middle of all the action, close to restaurants, cafes, shops, and Holland College. There is parking for 12-14 vehicles at rear and is wheelchair accessible. This solid steel structure has been completely renovated in 2004 with additional improvements, such as heat pump/air conditioning, electrical and plumbing (2013), sprinkler system (2013), and roof (2004).  There are 7 king suites, 6 queen suites, 5 bachelor suites, and 2 wheelchair-accessible units.  There is an 8% cap rate at this price.

Price: $2,370,000
Ron Barrett
Company: Century 21 Northumberland
Tel: 902-888-7238

Property details

Current/Previous Use: Apartments, office space, short-term suites, restaurant
MLS: 202018795
Multi-tenant building: Yes
Building Age: 38 years
Number of Floors: 2
Heating/Cooling: Heat pump, air conditioning
Lot Size: 0.42 acres
Total sq/ft.: 12,195
Parking: 12-14 parking stalls in rear, street parking
Property ID: 309922
Sprinklered: Yes
Security: Yes
Networked: Yes
Restrooms: Yes
Available sq/ft: 12,195


Sale Price: $2,370,000


Power on Site: Yes
Telecom on Site: Yes