Discover an exceptional investment opportunity with this robust two-story commercial building, strategically located within walking distance of amenities and Lake Nipissing, additionally, it offers easy access to public transportation. This property combines a long-term commercial tenant on the main floor with three newly renovated, one-bedroom apartments on the upper floor, offering stable and impressive returns. The commercial space of 2,192 square feet and is leased to an established, long-time tenant on a new 2-year lease, with multiple parking spots available in the side parking lot. The residential units consist of three newly updated one-bedroom apartments, each signed to a 1-year lease and fully occupied, with designated parking spots located at the rear of the building. Financially, this property supports a 7.44% cap rate generating a gross annual income of over $76,000, providing consistent rental income from the commercial lease and secure, year-long agreements ensuring steady cash flow from the residential leases. Don’t miss out on this chance to secure a lucrative addition to your investment portfolio. (id:47423)
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Detailed Information
Lot
80 x 100 ft
Amenities Nearby
Public Transit
Community Features
High Traffic Area
Equipment
Other
Listing Contract Date
2024-08-27
Location Description
Main street east to overpass to Lakeshore.
Ownership Type
Freehold
Property Type
Office
Rental Equipment
Other
Transaction Type
For sale
Zoning Description
C6L
Building
Basement Type
None
Stories Total
2
Size (Exterior)
4300
Utility Water
Municipal water
Land
Total Size
under 1/2 acre
Access Type
Road access
Amenities
Public Transit
Sewer
Municipal sewage system
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