152 Water Street new Save Request In-Person Tour Request Virtual Tour
St. John's,NL A1C1A9
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1282030
Originating Board Newfoundland & Labrador Association of REALTORS®
Year Built 1961
Property Sub-Type Freehold
Property Description
Located in the heart of downtown St. John's, 152 Water Street presents a premier redevelopment or investment opportunity, offering both strong current rental income and significant future potential. This 33,290 sq. ft. mixed-use building, with 28,128 sq. ft. currently developed for lease, has historically operated as an entertainment center and is surrounded by commercial buildings, making it well-suited for conversion into office, retail, boutique condominiums, or upscale rental apartments. The property offers ample space for a 30-unit residential conversion, with potential for vertical expansion to maximize stunning ocean views. Situated on a 7,276 sq. ft. lot with prime Water Street frontage, this property is located in one of St. John's most vibrant commercial corridors, surrounded by shops, restaurants, and major urban revitalization projects, such as the Alt Hotel across the street. While the property offers exceptional redevelopment potential, it is still generating strong rental revenue, making it an attractive option for investors who want to hold and lease while planning for future redevelopment. Whether maintained as a cash-flowing asset, converted into modern office space, or developed into a landmark residential project, this property offers exceptional flexibility and long-term value in Newfoundland's capital. (id:24570)
Location
Province NL
Exterior
Parking Features No
View Y/N Yes
View Ocean view
Private Pool No
Building
Story 4
Others
Ownership Freehold