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37 Ontario Street N Unit# 1 Grand Bend, Ontario N0M 1T0

Central Air Conditioning Forced Air Acreage Landscaped

$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:20429)

Property Details

MLS® Number 40173571
Property Type Other
Amenities Near By 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
Parking Space Total 48

Building

Basement Type None
Constructed Date 2001
Construction Style Attachment Attached
Cooling Type Central Air Conditioning
Exterior Finish Brick, Concrete
Foundation Type Poured Concrete
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 1
Size Exterior 9000.0000
Utility Water Municipal Water

Land

Access Type Water Access, Highway Access
Acreage Yes
Land 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
Size Total Text 1.011 Ac|1/2 - 1.99 Acres
Zoning Description C2

https://www.realtor.ca/real-estate/23713483/37-ontario-street-n-unit-1-grand-bend

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Mike Sloan
Salesperson

(519) 870-7650
(519) 672-5145
www.123myproperty.com

Royal LePage Triland Realty
103-240 Waterloo Street
London, Ontario N6B 2N4

(519) 672-9880
(519) 672-5145
www.royallepagetriland.com

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