37 ONTARIO Street N Unit# 1 Grand Bend

37 ONTARIO Street N Unit# 1, Grand Bend

$1,499,900

GRAND BEND, ON hassle free income opportunity just steps to the 3rd best beach in Canada* & situated in a high traffic location in one of the most prosperous beach towns in the country! Attention investors in search of a stable & secure venue to park some money: This young & fresh commercial space provides 9000 square feet of fixed term income across 3 separate units generating $94.4K per yr collectively with two 3 yr leases & the 15 yr gym tenant on a 3 yr lease in the largest unit, all NET NET, with owner expenses under $1K per yr! As most savvy income-minded investors are aware, ridiculously low interest rates & an exceptional seller's market environment have resulted in pricing levels on multi-unit investment properties exceeding the cap rates landlord buyer types have traditionally demanded. This is particularly true in thriving city markets with the highest population density. This phenomenon is one of the catalysts for the recent & very substantial investments that have been made in the Grand Bend area over past 12 months, as cap rates here are still respectable! In the wake of a world pandemic proving to the current crop of residential buyers that a work at home lifestyle is attainable, more families & younger generational buyers are migrating to rural areas & smaller towns, especially towns with world class beaches. Smart money is recognizing this trend. During the past year alone, there has been approximately 10 times more capital invested on individual property sales for development purposes on commercial & mixed use properties in Grand Bend than the amount spent on such land & buildings in the previous 15 yrs COMBINED! Why is all of this so crucial for a multi-unit investment property like this one? The result is stronger customer bases for yr round commercial tenants. And with commercial tenancy, landlord's upkeep responsibilities are minimal + the Commercial Tenancies Act is much more landlord friendly compared to the RTA! Easy money ladies & gents! (id:23309)
  • Listing ID: 40173571
  • Property Type: Other
  • Year Built: 2001
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Details

  • Amenities Nearby: Beach, Golf Nearby, Marina, Park, Place of Worship, Playground, Schools, Shopping
  • Community Features: High Traffic Area, Community Centre
  • Features: Park/reserve, Golf course/parkland, Beach
  • Maintenance Fee: 0.00
  • Maintenance Fee Payment Unit: Monthly
  • Ownership: Condominium
  • Parking Spaces: 48
  • Transaction: For sale
  • Zoning Description: C2

Building

  • BasementType: None
  • Constructed Date: 2001
  • Construction Style Attachment: Attached
  • Cooling: Central air conditioning
  • Exterior Finish: Brick, Concrete
  • Fireplace Present: False
  • Foundation: Poured Concrete
  • Heating: Forced air
  • Heating Fuel: Natural gas
  • Size Exterior: 9000.0000
  • Stories Total: 1
  • Utility Water: Municipal water

Land

  • Access Type: Water access, Highway access
  • Acreage: true
  • Amenities: Beach, Golf Nearby, Marina, Park, Place of Worship, Playground, Schools, Shopping
  • Landscape Features: Landscaped
  • Sewer: Municipal sewage system
  • Size Irregular: 1.011
  • Size Total: 1.011 ac|1/2 - 1.99 acres

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    This property for sale located at 37 ONTARIO Street N Unit# 1 in Grand Bend was last modified on October 7th 2021. Let us connect you with one of our real estate agents to schedule a viewing or subscribe to other properties for sale in Grand Bend.

    Mike Sloan

    Sales Representative

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