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Active commercial, business-for-sale, and multi-family listings across our coverage area. Live MLS® data direct from the Newfoundland & Labrador Association of REALTORS® (NLAR), updated hourly.
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Commercial properties currently on the market in the Metro Area
If you're a business looking for space — whether it's your first lease or your fifth relocation — we represent your interests, not the landlord's. Tenant representation is one of the most under-used services in commercial real estate, and it costs you nothing in most cases (the listing landlord pays the commission).
What tenant representation looks like:
Whether you're buying a building for your own business to occupy (owner-user) or acquiring an income property as an investment, the diligence process is fundamentally different from residential.
What we cover on a commercial purchase:
Selling commercial real estate is a different game than selling a house. The buyer pool is smaller, more sophisticated, and almost always financially driven. Marketing has to be tuned to that audience.
How we sell commercial properties:
The St. John's metro area offers diverse commercial opportunities across multiple micro-markets, each with distinct characteristics and tenant profiles.
The economic and cultural heart of the city. Prime location for retail, office, and service businesses. Strong pedestrian traffic, proximity to government offices, and vibrant street-level activity make downtown ideal for restaurants, professional services, and retail.
Typical Properties: Retail storefronts, professional offices, restaurants, entertainment venues.
Price Range: $200–$400+ per sq ft annually.
Major commercial corridor running through central St. John's, hosting retail chains, automotive dealerships, and service businesses. Good vehicle accessibility and visibility from main thoroughfare.
Typical Properties: Retail centers, dealerships, service stations, warehousing.
Price Range: $100–$250 per sq ft annually.
Established retail district with anchor tenants and secondary retail. Popular location for big-box stores and major retailers serving the west side population.
Typical Properties: Retail centers, anchor tenant spaces, secondary retail.
Price Range: $80–$200 per sq ft annually.
St. John's largest industrial area. Dedicated to manufacturing, warehousing, distribution, and specialized industrial operations. Strategic location near highway access and port facilities.
Typical Properties: Warehousing, manufacturing, distribution, light industrial.
Price Range: $5–$15 per sq ft annually; land leasing also available.
From street-level storefronts in downtown to mall spaces in shopping centres, retail properties serve diverse businesses—boutiques, restaurants, service providers, and chains. Foot traffic, visibility, and parking are key factors.
Professional office space ranging from single-room suites to multi-floor complexes. Demand remains strong for downtown locations near government and professional services clusters.
Purpose-built facilities for manufacturing, distribution, storage, and specialized operations. Donovan Industrial Park and surrounding areas offer excellent options with modern amenities and highway access.
Combinations of retail, office, and residential in single developments. Growing market segment responding to demand for walkable, integrated urban spaces.
Vacant or underutilized land available for new development. Opportunities for residential, commercial, and mixed-use projects in growing neighbourhoods and key corridors.
Income-producing commercial properties offering excellent returns. Turner Realty works with investors to identify and acquire quality commercial assets with strong cash flow potential.
Apartment buildings, purpose-built rental complexes, and converted residential investment properties. Multi-family is one of the most active commercial segments in the St. John's Metro Area, driven by strong rental demand and population growth.
Hotels, motels, inns, and short-term accommodation properties. Hospitality is a specialized asset class with unique valuation methods (RevPAR, ADR, occupancy) and buyer pools — we work with the national Royal LePage Commercial network to reach qualified hospitality investors.
Buying or selling a business — with or without the underlying real estate. We help owners package and sell their operating business (restaurants, retail, service, trades) and help buyers find established cash-flowing businesses for sale. Deals can include goodwill, FF&E, inventory, lease assignments, and real estate.
Market Strengths:
Development Trends:
Royal LePage Commercial is the dedicated commercial division of Royal LePage, Canada's largest national real estate brand. With 650+ commercial agents in over 110 locations across Canada and a history in commercial real estate dating back to the 1940s, RLP Commercial has orchestrated some of the country's most complex commercial deals. Mike Turner — Broker of Record at Turner Realty and the Broker overseeing our St. John's Metro Area office — joined RLP Commercial as a Designated Commercial Agent in November 2024, bringing that national platform to Turner Realty's clients in Central NL and the St. John's Metro Area.
What the designation gives our commercial clients:
Mike Turner oversees the St. John's Metro Area office for Royal LePage Turner Realty as Broker of Record. He brings the same commercial credentials and national network that have built Turner Realty's reputation in Central NL since 2014.
For commercial inquiries in the St. John's Metro Area, contact our St. John's office at 709-725-6520 or through the contact form below. Mike is also reachable directly on the Turner Realty brokerage line at 709-256-7999 (Gander, Broker of Record).
Turner Realty's commercial team is ready to guide you through your St. John's commercial real estate journey. Contact us today for a consultation.
Request Commercial ConsultationLeasing means lower upfront capital, flexibility to move when your business changes, and the landlord typically handles structural maintenance. Trade-off: monthly rent is an expense (not building equity), you’re subject to lease renewal terms + landlord decisions, and most commercial leases pass operating costs through to the tenant (CAM / NNN / triple-net — common in NL).
Buying means you build equity in the property, you control the space (renovations, signage, hours), and any appreciation is yours. Trade-off: significant down payment (commercial mortgages typically require 25–35% down in Canada), responsibility for all maintenance, property tax, insurance, and the building becomes part of your balance sheet — which affects financing for the business itself. A common pattern for small business owners is to buy through a holding company and lease back to the operating company.
NL municipalities use zoning bylaws to control land use — the most common commercial designations are C1 (Local Commercial) for neighbourhood retail/service, C2 (General Commercial) for highway/corridor commercial, C3/C4 (Mixed-use or Downtown) for higher-density commercial including office + residential above, and I (Industrial) for manufacturing, warehousing, vehicle service, etc. Classification numbers vary by municipality — St. John’s, Mount Pearl, CBS, and Paradise each use slightly different schemes.
Before you sign anything, confirm with the municipal planning department that your specific business type is a permitted use under the property’s zoning. A retail listing in a C1 zone may not permit a drive-thru, food prep, late-night hours, or alcohol service without a development permit or rezoning. Existing tenants’ uses are sometimes grandfathered — don’t assume yours will be.
Most commercial leases in NL are net leases — the tenant pays base rent (often quoted per sq ft per year, e.g. “$18/sqft” meaning $18 per square foot annually) PLUS a share of the building’s operating costs: property tax, building insurance, common-area maintenance (CAM), utilities for shared areas, snow clearing, etc. A triple-net (NNN) lease passes essentially all operating costs to the tenant; a gross lease bundles operating costs into the base rent (less common in NL).
Standard NL commercial lease terms run 3–5 years for small spaces, 5–10 years for larger anchor tenants, with renewal options and fixed or CPI-indexed escalators. Before signing, confirm the base-rent number, the CAM/operating-cost passthrough, the renewal terms, leasehold improvement allowances (TI dollars from the landlord), early-termination penalties, assignment/sublease rights, and the personal-guarantee scope. A commercial real estate lawyer should review any lease over a year.
Commercial due diligence typically includes: environmental site assessment (Phase I ESA is standard, Phase II if Phase I flags concerns — especially important for former gas stations, dry cleaners, industrial sites, or properties near older industrial corridors); building inspection by a qualified commercial inspector (mechanical, electrical, structural, roof, HVAC, fire-suppression); zoning + permit verification with the municipality (existing use, any open building permits, compliance with current bylaw); title search by a lawyer (easements, encumbrances, restrictive covenants); and income/expense review if it’s an income property (rent roll, leases, operating statements for the last 2–3 years).
Conditional periods on commercial offers are typically 30–60 days — longer than residential — to give the buyer time to complete all of the above. The buyer pays for the due diligence work directly; confirm the conditional-period scope and deposit terms in writing before opening the file.
Commercial commissions in NL are typically negotiated rather than fixed at a residential-standard percentage. On a sale, total commission is commonly in the 4–6% range on the first $1 million and lower on amounts above, split between the listing brokerage and the buyer’s brokerage. On a lease, commission is commonly calculated as a percentage of the total lease value (e.g. 4–6% of the first year’s rent + a smaller percentage of subsequent years), again split between listing and tenant brokerages.
The commission structure is set in the listing agreement (seller/landlord pays) and disclosed to all parties. Buyer’s and tenant’s agents are typically paid out of the listing-side commission, not directly by their client. Before engaging a brokerage as a buyer or tenant, confirm in writing how representation works and who pays in the event the listing brokerage doesn’t offer cooperative commission.
Yes — and the structure matters significantly for tax and risk. The two main shapes are an asset sale (the buyer purchases specific business assets: equipment, inventory, goodwill, customer lists, plus the real estate as a separate component) and a share sale (the buyer acquires the corporate entity that owns both the business and the real estate, inheriting all liabilities and tax positions with it).
Asset sales typically carry HST on the asset portion but allow the buyer a stepped-up cost base for depreciation; share sales avoid HST on most components but transfer the seller’s full tax history + any unknown liabilities. The real estate may be sold separately from the business (different closing dates, different buyers) or bundled. This is a transaction that needs a commercial lawyer + an accountant working together from the start — the structure decision is usually worth more than the listing price negotiation.
Conventional commercial mortgages from chartered banks and credit unions typically require 25–35% down, 5–10 year terms, 20–25 year amortizations, and personal guarantees from the principal(s). Rate spreads over residential are typically wider, reflecting commercial risk pricing.
Other options: CMHC commercial insurance for multi-residential rental properties (5+ units) can reduce the down payment and improve rates. BDC (Business Development Bank of Canada) offers commercial real estate loans tied to business expansion. Vendor take-back (VTB) financing — where the seller carries a portion of the purchase price as a second mortgage — is common on smaller deals and can bridge a financing gap. The right structure depends on the property type, the borrower’s covenant, and the deal timeline; talk to a commercial mortgage broker early.
Commercial transactions typically run 60–120 days from accepted offer to closing — meaningfully longer than residential because of the depth of due diligence (Phase I ESA alone runs 3–6 weeks), conditional periods (30–60 days for inspection, financing, zoning, title), the longer financing-approval cycle on commercial mortgages, and lawyer/lender coordination on more complex closings.
For income properties or business-included sales, expect 90–180 days. For straightforward owner-occupied small commercial (e.g. a retail bay with vacant possession), 60–75 days is achievable. The conditional period and closing date are negotiated in the offer — build in buffer for any due diligence step that might surface a renegotiation trigger.
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The information contained on this page is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. Listings are updated daily. Royal LePage Turner Realty (2014) Inc. is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.