37 Ontario St N - Office CONDO FOR SALE


Lambton Shores, ON N0M 1T0
$1,499,900 CAD
519-870-7650
37 Ontario St N, Lambton Shores, ON for Sale
$1,499,900 CAD
Office CONDO - FOR SALE
1/2
null | 6% Cap Rate

37 Ontario St N
Lambton Shores, ON N0M 1T0


HIGHLIGHTS

  • High exposure location
  • Ample parking
  • Retail amenities nearby

OVERVIEW

**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!

FOR SALE DETAILS

PRICE

$1,499,900 CAD

PRICE/SF

$167 CAD /SF

CAP RATE

6%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

18,318 SF

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

Cr

APN/PARCEL ID

384552001047021

ASK ABOUT THIS PROPERTY

Mike SloanRoyal LePage Triland RealtyMore Info
519-870-7650

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Mike SloanRoyal LePage Triland RealtyMore Info
519-870-7650

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.