Catylist ID:
#30182661
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: | 3/23/2023 |
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 |
Contact
Joe BanfieldRE/MAX professionalsCPIX® Member 
David BergmanRE/MAX professionalsCPIX® Member |
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