481 Main Street

About This Property

Live, work, and invest all in one location.Turn-key, mixed-use opportunity in a high-traffic, high-visibility Port Colborne west location, offering a rare combination of commercial space, residential living, and strong investment value. The established storefront is currently operated as the well-known "BB's Variety," serving a steady base of loyal clientele. Set along the Main Street / Hwy 3 corridor on a 99' x 133' lot with ample paved parking for 10+ vehicles. Zoned DC (Downtown Commercial), the property allows for a wide range of uses including continued commercial operation, residential income, or future multi-residential potential.The commercial space is approximately 998 sq ft of retail area with storage and its own washroom. The business includes multiple revenue streams such as grocery, lotto, tobacco, and convenience items, with current hours of 8 AM - 8 PM and potential to expand.The residential portion - with private entrance through the store as well as from the exterior - is approximately 1,897 sq ft and includes a primary 3-bedroom, 1.5 bath layout across two levels, with original character home wood trim & features. Main floor has kitchen, living and dining areas, office/den, laundry, 3 pc bath & mudroom. Plus, a separate bachelor apartment on the 2nd level, complete with its own exterior entrance and 4-piece bath, is ideal for extended family or potential rental income. The full basement with 890 sq ft of additional space for storage or future use.A detached double garage, rebuilt in 2018 with hydro and heat, adds further utility for workshop or storage. Outdoor space includes a private deck, ground-level patio, and partially fenced yard.Updates include roof shingles (2016), commercial A/C (2021), electrical improvements with two 100-amp services, plumbing upgrades, and garage improvements including new electrical, furnace, and roof. An opportunity with multiple income streams, strong exposure, and future potential.