$650,000
62 LAKESHORE Drive North Bay, ON P1A2A3
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$650,000
Est. payment /mo
4,300 SqFt
Active
62 LAKESHORE Drive North Bay, ON P1A2A3
UPDATED:
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 4,300 sqft
Price per Sqft $151
Subdivision Ferris
MLS® Listing ID 40637984
Originating Board North Bay and Area REALTORS® Association
Property Description
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:24570)
Location
Province ON
Exterior
Garage No
Community Features High Traffic Area
Waterfront No
View Y/N No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
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