We paid $5,500,000 for this asset in 2019. That purchase price included 2 parking spaces in the condominium next door at 50 Charles St. E., valued at $75,000 per space at that time. We have since invested approximately $500k renovating this building. Simply by gutting the interior and remediating some environmental contaminants, we have added tremendous value to this property. The building is now in a decent condition to show and tour with prospective tenants and we intend to list it for lease in the coming weeks.
The appraisal can be downloaded by clicking the link below.
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