129-153 Commercial Street

Description

MOTIVATED SELLER - PRICE REDUCED - PRICED TO SELL! Deeply rooted in the heritage of Cape Breton’s second-largest urban center, The Courtyard represents a rare generational opportunity. Glace Bay is framed by the Atlantic Ocean, with landmarks like the historic Savoy Theatre and Cape Breton Miners Museum defining its rich character. Today, this fully updated mixed-use complex presents an extraordinary investment proposition as the OWNER RETIRING. Spanning three distinct civic addresses in the absolute heart of Glace Bay's primary commercial corridor, the property offers an entire acre of public parking directly behind the complex. Over $1.1 million in capital improvements have been completed over the past five years, including a NEW STEEL ROOF ON ALL THREE BUILDINGS, comprehensive brick repointing, a commercial 7.5-ton HVAC setup, and updated multi-zone heat pumps. The main level features stable, long-term institutional and corporate tenancies, including the Glace Bay Library, H&R Block, Vintage Jewellers, and established medical practices, while the upper floors are fully occupied residential units. This makes the asset INCOME PRODUCING FIRST DAY. Located near Cape Breton University and Sydney, the property yields a 10%+ capitalization rate with LOTS OF UPSIDE. With VENDOR FINANCING AVAILABLE and all major physical upgrades complete, this turnkey property is positioned for an exceptionally smooth transition into its next chapter of ownership.