220-228 West StreetPort Colborne, Niagara, ON, L3K 4E3
220-228 West StreetPort Colborne, Niagara, ON, L3K 4E3
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Listing History
Buy/sell history for 220-228 West Street, Port Colborne, ON L3K 4E3
| Date Start | Date End | Event | Price | MLS# |
|---|---|---|---|---|
0 Transactions by CPRB Agents
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Description
An exceptional opportunity to acquire a 12-unit mixed-use income property at 220-228 West Street in Port Colborne, Ontario.The asset comprises 8 residential suites (4 bachelor, 3 one-bedroom, 1 two-bedroom) and 4 ground-floor commercial units leased to established local tenants. In-place effective gross income (EGI) is approximately $120,217 and in-place net operating income (NOI) is approximately $61,546. On a stabilized basis, residential rents are projected at Canada Mortgage and Housing Corporation (CMHC) blended average rents of $1,100/month for Port Colborne, consistent with published CMHC averages of $1,082 for one-bedroom and $1,118 for two-bedroom units as of October 2025. At these assumptions, the asset supports NOI of approximately $101,663 and a cap rate of 6.78% at the asking price. Total annualized residential rent upside to the CMHC blended average is $40,272, representing a 61.65% gain on current residential rents
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$1,499,000
List price