1 - 37 Ontario Street N Lambton Shores, Ontario N0M 1T0
$1,499,900
**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, w/ the healthy CAM/TMI (additional to the $90K) leaving the owner w/ expenses of only under $1K 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 pay all expenses VIA TMI (in addt'n to rent income) & proportionate utility share (in addt'n to TMI), so owner expenses NIL, which is why property taxes are listed only at $750/yr (approx. what owner has to pay in expenses/taxes) (id:51356)
Property Details
| MLS® Number | X11940174 |
| Property Type | Retail |
| Community Name | Grand Bend |
| Amenities Near By | Highway, Recreation |
Building
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 9,000 Ft2 |
| Type | Retail |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Highway, Recreation |
| Zoning Description | C2 |
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January 27 2025 03:50:27
London and St. Thomas Association of REALTORS®
Royal LePage Triland Realty
