$1,499,900
Available - For Sale
Listing ID: X11940174
37 ONTARIO St North , Unit 1, Lambton Shores, N0M 1T0, Ontario
| **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! |
| Price | $1,499,900 |
| Taxes: | $0.00 |
| Tax Type: | Annual |
| Assessment: | $1049000 |
| Assessment Year: | 2024 |
| Occupancy by: | Tenant |
| Address: | 37 ONTARIO St North , Unit 1, Lambton Shores, N0M 1T0, Ontario |
| Apt/Unit: | 1 |
| Postal Code: | N0M 1T0 |
| Province/State: | Ontario |
| Legal Description: | UNIT 1, LEVEL 1, LAMBTON STANDARD CONDOM |
| Directions/Cross Streets: | Map to 37 Ontario St North, Grand Bend, ON - situated adjacent to the Tim Hortons drive thru & featu |
| Category: | Commercial Condo |
| Building Percentage: | Y |
| Total Area: | 9000.00 |
| Total Area Code: | Sq Ft |
| Retail Area: | 9000 |
| Retail Area Code: | Sq Ft |
| Area Influences: | Major Highway Rec Centre |
| Approximatly Age: | 16-30 |
| Sprinklers: | N |
| Heat Type: | Gas Forced Air Closd |
| Central Air Conditioning: | Y |
| Water: | Municipal |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE TRILAND REALTY |
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|
Nick Sabouri
Sales Representative
Dir:
416-735-0345
Bus:
416-494-7653
Fax:
416-494-0016
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Commercial/Retail |
| Area: | Lambton |
| Municipality: | Lambton Shores |
| Neighbourhood: | Grand Bend |
| Approximate Age: | 16-30 |
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