218 Joseph Street
Central Elgin, ON
- 4 bath
- 4,548 sqft
- Commercial Retail
- 197 days on market
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.
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Listing Details
- Taxes (2025)
- $7,842
- Listed
- February 17, 2026
Price History
Listing history
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Property
- Age
- 51-99
- Lot Size
- 35.75 x 132 Feet
Parking
- Garage
- Outside/Surface
Location & Legal
- Cross Street
- JOSEPH STREET & COLBORNE STREET
- Zoning
- BUSINESS ZONE 1 (B1) / MIXED USE COMMERCIAL/RES
- Parcel Number
- 352530139
- Possession
- Flexible
- Occupancy
- Tenant
Commercial
- Business Type
- Retail Store Related
- Office / Apartment Area
- 1529 Sq Ft
Included
- Exclusions
- Tenants Belonging
- Rental Items
- None
Community
Postal area N5L
- Population
- 3,714
- Private dwellings
- 2,003
- Median age
- 57.6
- Average household size
- 2.2
- Median household income
- $89,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Central Elgin · last 12 months
- Median sold price
- $625,150
- Homes sold
- 214
- Median days on market
- 38
- Sale-to-list price
- 97.0%
Based on 214 recorded sales of commercial properties in Central Elgin over the last 12 months.
Listed by
THRIVE REALTY GROUP INC.
Walk Score
Walk
Bike
Scores by Walk Score®
Location
Street View
Commercial figures
- Building area
- 4,548 sq ft
- Price per sq ft
- $417.77
- Annual property tax
- $7,842
- Tax per sq ft
- $1.72
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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