A rare opportunity to reposition a substantial three-storey building for its next chapter in the heart of Madoc. With the property now zoned for high-density residential use and municipal approval allowing up to nine residential units, this versatile building offers exciting potential for investors, developers and those looking to create a long-term income-producing property.The building provides more than 5,000 sq. ft. of space across three levels, with an existing layout that includes 21 office spaces, kitchens or kitchenettes, washrooms on each floor and elevator access. Concept drawings have been prepared to illustrate how the building could potentially be converted into three residential units per floor, helping buyers visualize the possibilities offered by the updated zoning.Whether developed as a nine-unit rental property, converted in phases or explored for future condominium-style ownership, the existing footprint, municipal water and sewer services, forced-air gas heating, central air conditioning, on-site parking and elevator provide a strong foundation for redevelopment.Located close to downtown amenities, shops and services, this is an opportunity to transform an established building into much-needed residential housing while creating lasting value in a growing community. Concept plans are provided for illustration purposes only. Buyers are encouraged to complete their own due diligence regarding building permits, approvals, code requirements and the proposed conversion. (id:4069)
Address
108 RUSSEL STREET
List Price
$999,900
Property Type
Multi-family
Type of Dwelling
Other
Transaction Type
Sale
Area
Ontario
Sub-Area
Centre Hastings
Bathrooms
4
Half Bathrooms
4
Floor Area
5000 - 100000 Sq. Ft.
Lot Size
103.8 x 165 FT Ac.
Lot Depth
165 ft
Frontage Length
103 ft ,9 in
MLS® Number
X13603160
Listing Brokerage
Royal Lepage Proalliance Realty
Basement Area
Crawl space (Unfinished)
Postal Code
K0K2K0
Zoning
R4-6-H
Parking Places (Total)
9
Site Influences
Park, Place of Worship, Schools
Features
Irregular lot size
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Central air conditioning
Foundation Details
Block
Number Of Floors In Building
3
Water Source
Municipal water
Sewer
Sanitary sewer
