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221 Algonquin Avenue
Central North Bay P1B 4V8

$2,899,900 /For Sale
Commercial

Main Photo: 221 Algonquin Avenue in North Bay: Central Commercial for sale : MLS®# X13739056
Photo 1: 221 Algonquin Avenue in North Bay: Central Commercial for sale : MLS®# X13739056
Photo 2: 221 Algonquin Avenue in North Bay: Central Commercial for sale : MLS®# X13739056
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Status:
Active
Prop. Type:
Commercial
MLS® Num:
X13739056
Bus Major:
Apts - 13 To 20 Units
This well-positioned multi-use property offers an attractive combination of residential and commercial income potential. The building features 18 one-bedroom apartments and 4 commercial spaces, providing a diverse tenant mix and multiple revenue streams. Located at a highly visible downtown intersection, the property is C-1 zoned and offers excellent exposure. Select residential units feature water views, with North Bay's scenic waterfront and downtown amenities just moments away. Additional features include approximately 25 parking spaces, three sets of new cashless digital operated washers and dryers under lease agreement with Sparkle solutions , and a hot water boiler heating system updated in 2011. The membrane roof coverings were updated in 2012. A Phase 1 environmental report, survey, income and expense statements, and additional supporting documentation are available through the listing brokerage. An excellent opportunity for investors seeking a substantial mixed-use asset with existing income, additional upside potential, flexible commercial opportunities, and a prime downtown location.
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Total Area:
20500 sq. ft. Square Feet
Total Area:
20,500 sq. ft.
Office/Apt Area:
20500 sq. ft. Sq Ft
Lot Depth:
132'
Lot Frontage:
254'8"
Water supply:
Municipal
Zoning:
C1
Heating type:
Gas Hot Water
Garage:
None
HST Applicable To Sale Price:
In Addition To
Assessment Year:
2025
Type Taxes:
Annual
Taxes:
$29,465 / 2026
Assessment:
$- / 2025
Nipissing
North Bay
Central
Yes
3 sets of cashless digital operated washer and dryer under contract with sparkle solutions. Sparkle retains $118/pair per month ($354 total) and the landlord receives 95% of monthly revenue above $354.
Utilities:
Yes
Air Conditioning:
Yes
Seller Property Info Statement:
No
Financial Statements:
Yes
Major Business Type:
Apts - 13 To 20 Units
Category:
Apartment
Franchise:
No
Hours Open:
0
Employees:
0
Chattels:
No
LLBO:
No
Seats:
0
Date Listed:
Sep 02, 2026
Original Price:
Previous Price:
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Listed by EXP REALTY
Data was last updated September 3, 2026 at 04:15 AM (UTC)
DARYL  KING
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FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
Yes, apartment buildings provide steady rental income, potential tax benefits, and property value appreciation over time.

2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

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Yes, many financing options are available for new investors, including CMHC-backed loans and commercial mortgages.

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Typically, any property with five or more units is classified as an apartment building for investment purposes.

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You can find listings across major cities and growing suburbs where rental demand remains strong.