PRICED TO SELL!!! PRIME LOCATION DOWNTOWN OFFICE BUILDING

Office for Sale
Catylist Listing ID: 30182661
Property Subtypes: Office Building
Building Size (RSF): 16,000 SF
Gross Land Area: 4,823 SF
Sale Price: $1,950,000
Unit Price: $121.88 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: 290 Garry St.
Class of Space: Class C
Usable Size (USF): 16,000 SF
Sale Terms: Cash to Seller
Last Updated: 11/6/2022

Overview / Comments

A recent major price reduction now makes this property an incredibly attractive buy at only $121 per sq. ft. of building area. This is an excellent opportunity for a business wanting to make the move from leasing to ownership.

290 Garry St. was designed by the Winnipeg Architectural firm of Pratt & Ross and was originally owned/built in 1911 for the Mortgage Company of Canada. It is constructed of masonry & concrete and is currently in very good condition. The Mortgage Company of Canada remained at this address until 1955. Included in the past tenant rosters of 290 Garry have been the Belgian Consulate, financial institutions, real estate companies, insurance
companies and several law firms. A significant upgrade was completed in 1988 by the previous owners, a few years prior to the current owners taking possession.

An environmental report was undertaken in 1999 & the building & property complied with the standards set out at that time, and as such no remediation work was required.

A new exterior building lighting scheme (featured in the photographs) has been installed.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $36,852 (Annual)
Assessed Value - Total($) $1,824,000 (Annual)

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 9A
Tax ID/APN: 12093217500
Zoning: BY-LAW 4800
Property Located Between: Portage & Graham Ave
Property Visibility: Good
Area Description: The Fort Street corridor has come into its own offering a funky downtown vibe with great pubs & eateries flanked by a plethora of downtown living & parking options.
Number of Stories: 4
Typical SF / Floor: 4,000 SF
Year Built: 1911
Year Renovated: 1990
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: Masonry & limestone, c/w modern exterior building lighting, a newer roof & roof top patio.
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Tons of newly built, well lit heated underground stalls across the street & multiple surface parking options in the immediate area
Total Parking Spaces: 4
Passenger Elevators: 1
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Fiber Optic
Interior Description: Beautifully restored heritage classic with beautiful lobby finishes, functional multi workstation layouts on some floors & a bright spectacular executive floor with private board rooms, & tons of glass throughout!
Zoning Description: downtown by law 4800
Lot Frontage: Std 40'
Lot Depth: Std 120'
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: see legal description.
Land Ownership: fee simple
Legal Description: Lot 10 Plan 34485 WLTO with an easement of light and air as appurtenant to said Lot 10 over and upon Lot 11 Plan 34485 WLTO in RL1 Parish of St. John

View FullscreenMap


Contact

Photograph of Listing Agent

Joe Banfield

RE/MAX professionals
CPIX® Member
Photograph of Listing Agent

David Bergman

RE/MAX professionals
CPIX® Member
© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Winnipeg Regional Real Estate Board nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.