62 Lakeshore Drive , North Bay, ON P1A2A3
North Bay, ON P1A2A3
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:374)
Details
| Mls | 40637984 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 100 |
| Listing Provided By | REALTY EXECUTIVES Local Group Inc. Brokerage | AIMEE CAZABON |
Features
| Sq Feet | 4,300 |
|---|---|
| Storys | 2 |
| Zoning | C6L |
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Learn More About This Property
| State | ON |
|---|---|
| City | North Bay |
| Zip Code | P1A2A3 |
| Community Name | Ferris |
| Listing VS Median (in Ferris) | |
Price: $650,000 low | high Med: $321,950 SqFt: 4,300 low | high Med: 1,530 $ / SqFt: $151 low | high Med: $234 On Site: 100 low | high Med: 98.500000 | |