31 Atlantic Avenue, Unit 3rd Fl
31 Atlantic Avenue, Unit 3rd Fl
$3,250,000
$751/sq ft · 37 days on market
About This Listing
Main floor and mezzanine income is $7506 plus utilities (water, waste management, gas and hydro)and HST. Original term ends on October 31,2026. Plus a 5 year option. It is leased to Liberty Grace Church. They are willing to stay and renew for another 5 years. They were looking to buy the property but unfortunately cannot come up with a down payment of 30%.Upper floor income was $5237 plus utilities (water, waste management, gas and hydro) and HST. Currently vacant and being painted, replacing windows and washroom.Tony has not leased the upper unit in case a potential buyer needs the space.Potential income from renting north wall for advertising according to Grassroots Advertising: $36,000 per year as per their offer to lease. Again Tony is holding off leasing as he prefers to sell the property.Seller pays property tax; $29,507.47(2025). The main floor is leased to a church and may qualify for a property tax exemption although the current owner has not applied for it.Seller pays property insurance $6,025.32.
| Monthly Mortgage (P&I) | $14,160 |
| Property Tax (MLS) | $2,419 |
| Maintenance Fees | $0 |
| Total Monthly Cost | $16,579 |
Down payment: $650,000 (20.0%) · Mortgage: $2,600,000
Property tax uses MLS annual tax of $29,024/yr. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.
Property Details
Listing provided by RE/MAX WEST REALTY INC.
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Data last updated: August 23, 2026 at 04:25 a.m.