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In-PersonVirtual Tour
$ 1,499,900
Est. payment | /mo
9,000 SqFt
$ 1,499,900
Est. payment | /mo
9,000 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,000 sqft
Price per Sqft $166
Subdivision Grand Bend
MLS® Listing ID X11940174
Originating Board London and St. Thomas Association of REALTORS®
Property Description
**ATTENTION INVESTORS** scoop up an easy 6 CAP with this hassle free GRAND BEND income opportunity just steps to the 3rd best beach in Canada & situated in a high traffic location in one of the fastest growing rural towns in the country! Attention investors in search of a STABLE & SECURE venue to park some money: This young & fresh 9000 SQ FT 3-UNIT/TRIPLE TENANT commercial condo provides reliable fixed term income across 3 separate units generating just over $90K per yr collectively on 3 separate term leases, all NET NET agreements, with the healthy TMI/CAM (an additional $61K + UTILITIES) leaving the owner with ZERO expenses per yr! As most savvy income-minded investors are aware, successful business tenants in a growing community are likely a safer bet than equities, which is likely the catalyst for the substantial investments that have been made in the Grand Bend area over past 36 months, all simultaneous to more & more families & younger generational buyers migrating to the beach for year round living! Bottom line, the smart money is recognizing this trend & its here in Grand Bend. During the past 4 years alone, there has been approximately 10 X more capital invested on individual property sales for development & investment purposes on commercial & mixed use properties in Grand Bend than the total amount spent on such land & buildings in the previous 20 yrs COMBINED! Why is all of this so crucial for a commercial income property like this one? Because, these trends result in stronger customer bases for the year round commercial tenants at this excellent location! And w/ commercial tenancy, landlord's upkeep responsibilities are minimal + the Commercial Tenancies Act is more landlord friendly than the RTA! This offering provides easy low hassle income in a prime spot w/ everlasting visibility directly across from the Tim Horton's drive thru! Plus, the potential 2 new EV chargers (currently in the approval phase) could generate even more income! 10+ all around! **** EXTRAS **** Tenants' NET NET pay all expenses VIA TMI (in addt'n to lease income) & proportionate utility share (in addt'n to TMI), so owner has NO EXPENSES, which is why property taxes are listed $0/yr. This is a legitimate commercial income property! (id:24570)
Location
Province ON
Interior
Heating Forced air
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by ROYAL LEPAGE TRILAND REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
4145 North Service Rd Unit: Q 2nd Floor L7L 6A3, Burlington, ON, Canada