Rare opportunity to acquire a landmark, income-producing property in the heart of Port Stanley's downtown core. The former Port Stanley Fire Hall has been extensively redeveloped into a modern commercial marketplace with an executive residential apartment above, creating a unique and diversified investment asset.The building comprises approximately 4,548 sq. ft., including 3,019 sq. ft. of main-floor commercial space and a 1,529 sq. ft. two-bedroom residential apartment on the second level. Originally constructed in 1974, the property has undergone over $1,000,000 in recent capital improvements, effectively replacing all major building components and delivering a near-new condition asset.The main floor is 100% leased as a curated marketplace, featuring a central corridor layout with multiple vendor stalls, excellent pedestrian flow, providing walk-up access, and upgraded common areas including men's and women's washrooms. The space has been thoughtfully designed to support long-term tenancy, flexibility, and strong foot traffic.The upper-level apartment offers two bedrooms, two bathrooms, an open-concept kitchen with island, quality appliances, living area, private entrance, gas fireplace and a private outdoor terrace with gas BBQ. Finishes are modern and professional, suitable for executive or long-term rental occupancy. Mechanical and electrical upgrades include 400-amp service, multiple hydro meters, generator, new HVAC systems, new roof, new plumbing, accessibility improvements, and new stormwater pipe. The property is zoned B1 (Business Zone) and benefits from exceptional exposure to both pedestrian and vehicular traffic in Port Stanley's central business district.This is a stabilized, income-generating investment with additional upside through tenant turnover, rental optimization, and long-term appreciation in one of Southwestern Ontario's most sought-after waterfront communities. Financial information available upon execution of a confidentiality agreement.
Address
218 Joseph Street
List Price
$1,900,000
MLS® Status
New
Expiration Date
2026-12-31
Property Type
Commercial
Type of Dwelling
Commercial Retail
Transaction Type
Sale
Area
Central Elgin
Sub-Area
Port Stanley
Region
Elgin
Bathrooms
4
Lot Size Source
MPAC
Lot Depth
132
Lot Type
Lot
Lot Size Units
Feet
Lot Width
35.75
Parcel Number
352530139
Total Building Area
4548
Occupant Type
Tenant
Cross Street
JOSEPH STREET & COLBORNE STREET
Approx. Age
51 - 99 Years
MLS® Number
X12794042
Listing Brokerage
THRIVE REALTY GROUP INC.
Postal Code
N5L 1C4
Posession Details
FLEX
Parking Spaces
1
Tax Amount
$7,842.30
Tax Year
2025
Standard Status
Active
Board Or Association
London and St. Thomas Association of REALTORS
Heat Type
Other
Cooling Features
Yes
Garage Type
Outside/Surface
Security Features
No
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