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37 ONTARIO Street N Unit# 1
Grand Bend ON N0M1T0 Canada

$1,499,900

Active Listing ID 40173571
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Condominium

$1,499,900

Active Listing ID 40173571
Save

37 ONTARIO Street N Unit# 1 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? Stronger customer bases for yr round commercial tenants! And w/ commercial tenancy, landlord's upkeep responsibilities are minimal + the Commercial Tenancies Act is more landlord friendly than the RTA! Easy money in a sweet spot @ the Tim Horton's drivethru! (id:203)

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Property Features

  • Facts
  • Property Type: Other
  • Property Sub-type: Condominium
  • Land.Acreage: true
  • ParkingSpaceTotal: 48
  • Features
  • Cooling System: Central air conditioning
  • Exterior Finish: Brick, Concrete
  • Heating Fuels: Natural gas
  • Heating Systems: Forced air
  • Land.LandscapeFeatures: Landscaped
  • Features: Park/reserve, --- Golf course/parkland, --- Beach
Listing Changed: 11/15/2021 10:39:14 PM GMT
Source Updated Date: 12/2/2021 9:51:17 PM GMT

Courtesy of: MIKE SLOAN, Salesperson, ROYAL LEPAGE TRILAND REALTY