218 Joseph Street Central Elgin, Ontario N5L 1C4
$1,900,000
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. (id:28006)
Business
| Business Type | Retail and Wholesale |
| Business Sub Type | Retail misc. |
Property Details
| MLS® Number | X12794042 |
| Property Type | Retail |
| Community Name | Port Stanley |
| Parking Space Total | 1 |
Building
| Bathroom Total | 4 |
| Age | 51 To 99 Years |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Other, Forced Air |
| Size Interior | 4,548 Ft2 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 132 Ft |
| Size Frontage | 35 Ft ,9 In |
| Size Irregular | 0.108 |
| Size Total | 0.108 Ac |
| Size Total Text | 0.108 Ac |
| Zoning Description | Business Zone 1 (b1) / Mixed Use Commercial/res |
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February 17 2026 06:23:17
London and St. Thomas Association of REALTORS®
Thrive Realty Group Inc.