Home Details for 22 Academy Street

Downtown Mixed-Use Investment Opportunity.Excellent opportunity to acquire a substantial mixed-use property in the heart of downtown. Zoned M2, the building offers approximately 10,835 sq. ft. of above-grade space, along with additional unfinished basement area, providing considerable flexibility for investors, owner-users, or redevelopment plans.The main level features extensive commercial space currently equipped with two commercial kitchens, a full bar, dining areas, and large open areas. With multiple access points, the layout may provide an opportunity to reconfigure the commercial portion into as many as three smaller commercial units, creating the potential for multiple income streams.The second floor contains three residential units, with additional potential for a fourth residential unit on the main floor, subject to applicable approvals. This existing mixed-use configuration provides an opportunity to generate both commercial and residential income while allowing a future owner to further optimize the property.The building is supported by substantial infrastructure, including 400-amp electrical service for the commercial area and 200-amp service for the residential units, an industrial water tank under 10 years old, water filtration system, approximately 1.5-2-inch water feed, two grease traps, basement beverage chillers, and a keg system.Fire and life-safety features include an existing fire safety plan, suppression systems, interconnected fire pulls, and dedicated exits for each residential unit. The property also offers seven on-site parking spaces, complemented by nearby public parking.For qualified purchasers, the seller is open to considering a 3-year Vendor Take-Back (VTB) mortgage. With its downtown location, M2 zoning, substantial floor area, existing mixed-use configuration, and potential for further repositioning, this property presents several possibilities for both current income and future value creation. (id:31684)

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