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$798,000 +GST/QST

RE/MAX Commercial

Commercial for sale - Ville-Marie (Vieux-Montréal)

$798,000 +GST/QST

$798,000 +GST/QST

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Loading property...

$798,000 +GST/QST

RE/MAX Commercial

Commercial for sale - Ville-Marie (Vieux-Montréal)

$798,000 +GST/QST

$798,000 +GST/QST

Next Open House

261 Rue St-Jacques, app.200, Ville-Marie (Vieux-Montréal), H2Y 1M6

Charming commercial condo occupying the entire 2nd floor of the prestigious "Le Metropolitan" built in 1903, subsequently renovated, transformed into divided condominiums in 2011. Suite 200 is partially rented and has high ceilings, 2 bathrooms and shares access to the conference room on 1rst floor. Interesting incomes with lots of potential!

  • NUMBER OF ROOMS : 0
  • Year built : 1903
DIANE SABOURIN
Certified real estate broker
Brokers tranquilit
Building details and property interior
Particularities plusParticularities minus

26'11" X 63'4" Irregular

1903

1,615.66 SF

Poured concrete

Indiana Buff stone , Brick , Stone

6 feet and more , Outdoor entrance

Addenda
Particularities plusParticularities minus

Charming commercial condo occupying the entire 2nd floor of the prestigious 1903 Metropolitan Bank building on the main artery of Montreal's business center, Saint-Jacques street. Building has been renovated over the years and transformed into divided co-ownership in 2011. Unit 200 is currently approximatively 75% rented with potential incomes of up to 70,000$ (see leases). Interesting potential as an owner occupied office or as a profitable investment in the most sought-after area of Old-Montreal.

ZONING - Building potential: The front part has 7 floors, while the rear part (on Ruelle des Fortifications) has only 2 (plus the basement with storage). The current occupancy density of the building is lower than the possibilities offered by Montreal's regulations. The actual zoning sheet indicates zone M.7C (mixed zone), maximum density of 12, maximum height 44 meters. Any verification, validation, analysis, plans and other steps to these effects shall be the sole responsibility and at the expense of the buyer.

There is a 1985 published Act of perpetual, mutual and reciprocal servitude of tolerance of views between the buildings at 255 and 261 rue St-Jacques.

DECLARATIONS BY THE SELLER:
A) The seller declares to have carried out renovations and improvements in his private part. No permit issued, but at the latest within the framework of the buyer's due diligence period following an accepted promise to purchase, the seller shall transmit all plans, invoices and contracts relating to said work that would be in his possession.

B) The seller declares that he may be open to receive any offer or promise to purchase for the simultaneous acquisition of any other unit then available that he holds in the building. (See namely Centris listing sheet #15999073 for suite 500).

C) The Metropolitan building was erected around 1903, is not reported as a classified or recognized cultural property, but it is located in the historic district of Old Montreal of heritage site of Montreal. Therefore, the municipality is able to exercise certain rules and powers for this purpose. Consequently, as part of its due diligence, the buyer will be fully responsible for performing any appropriate verification in this regard.

D) CO-OWNERSHIP: Heating and A/C fees through the central systems of the building are INCLUDED IN THE CONDO FEES. The financial statements of said Co-ownership syndicate state that as of December 31, 2020, the contingency fund balance was 58,467$ and that the insurance self-assessment fund balance in place was 4,900$.

In June 2021, the management firm hired by the Syndicate reported that no special assessment had been voted and that the Register of facades and the Maintenance booklet with study of the contingency fund were still to be undertaken. The date of the next annual meeting of co-owners remains to be confirmed.

Building details and property interior
Particularities plusParticularities minus

26'11" X 63'4" Irregular

1903

1,615.66 SF

Poured concrete

Indiana Buff stone , Brick , Stone

6 feet and more , Outdoor entrance

Lot and exterior features
Particularities plusParticularities minus

Near Old-Port

Montreal Courtroom, Appeal Court, Square Victoria , Highway , Metro , CARAC.PROX.REM , Commuter train , Public transportation

Other , Commercial

Characteristics
Particularities plusParticularities minus

Central A/C , Hot water

Included in monthly condo fees

Elevator(s) , Central air conditioning , Fire detector , Intercom , Sprinkler system

Municipality

Municipality

Included & Excluded
Particularities plusParticularities minus

Any lighting fixture or blinds in the premises.

Furniture, equipment and personal belongings.

Financial details
Particularities plusParticularities minus
Assessment (2018)
Taxes
  • (2021)
  • (2020)
Annual Expenses
Energy
261 Rue St-Jacques, app.200, Ville-Marie (Vieux-Montréal), H2Y 1M6
NEIGHBOURHOOD STATISTICS
  • Statistics Person living alone
  • Statistics Families with children
  • Statistics Families with no children
  • 7.6%
  • 11.5%
  • 3.5%
  • 12.7%
  • 63.5%
  • 0.0%
  • 0.4%
  • 0.0%
  • 25.1%
  • 74.1%
UnilingualFrenchUnilingualEnglishBilingual(fr/en)Other 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%100%
  • Statistics Household
  • Statistics Individual
  • Statistics Owners
  • Statistics Renters
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DIANE SABOURIN
Certified real estate broker
Brokers tranquilit

MORTGAGE PAYMENTS CALCULATOR

Financial details

Assessment (2018)
Taxes
  • (2021)
  • (2020)
Annual Expenses
Energy
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