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One for your investment portfolio or possible family run business...Decommissioned as a church, this breathtaking property features original non-religious stained glass throughout with 19th century hand crafted woodwork & was proudly honored with the Mayor's Heritage Award the year they first opened & is currently home to a thriving business used for concerts, weddings, and corporate functions. If that weren't enough to pique your interest it is supported by two legal non-conforming 2-bedroom 1 bath apartments w/in suite laundry that frankly boast more sqft. than some homes (1938 & 1672 sqft.) separated from the Event Centre all within step of Chathams revitalized downtown core. Consisting of 3 floors the first being the Main Auditorium with bar area, fully updated men's & women's washrooms w/multiple stalls & urinals including wheelchair access as well as a full kitchen, staff bathroom, office and utility rooms. The fabulous second floor Auditorium has an exposed cathedral ceiling w/working organ, main stage & bar area. The 3rd level is a grand upper balcony area w/multiple seating for overlooking the multiple 2nd floor events that may be occurring. Transitioning between the floors are two separate staircases at the front and back of the Auditoriums along with a fully functioning and regularly inspected & certified elevator. Speaking of floors throughout the property you'll find beautiful carpeting, LVT, laminate, ceramic and clay tiles. Boasting a very conservative cap rate of over 8% this majestic property allows for multiple revenue streams with a current zoning of Institutional. This Event Centre has been updated & preserved where need be for the potential savvy investor to buy with confidence. Updates include roof, electrical, plumbing & HVAC 2015 w/paved & painted parking lot for up to 50 cars. Layout plans of the property along with zoning information & financials can be provided upon request. (id:24093)
Listed by GENE KOESLAG and RICK LUONG of RE/MAX REAL ESTATE CENTRE INC.,BROKERAGE

Property Details of 122 William Street South

Property Details

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"Based on information submitted to CREA as of December 2, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or CREA.  All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing."

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