Address
37 ONTARIO Street N Unit# 1 Grand Bend, ON
Price
$ 1,499,900
Property Attributes
  • ID#40173571
  • TypeCondos
  • CityGrand Bend
  • Postal CodeN0M 1T0
  • Style
  • Price$ 1,499,900
  • Bedrooms0
  • Bathrooms0
  • Half Bathrooms0
  • Lot Size1.01 Acres
Listing Provided Courtesy Of:
ROYAL LEPAGE TRILAND REALTY
Data Source:
Canadian Real Estate Association
Property Description

GRAND BEND, ON hassle free income opportunity just steps to the 3rd best beach in Canada* & situated in a high traffic location in one of the most prosperous beach towns in the country! Attention investors in search of a stable & secure venue to park some money: This young & fresh commercial space provides 9000 square feet of fixed term income across 3 separate units generating $94.4K per yr collectively with two 3 yr leases & the 15 yr gym tenant on a 3 yr lease in the largest unit, all NET NET, with owner expenses under $1K per yr! As most savvy income-minded investors are aware, ridiculously low interest rates & an exceptional seller's market environment have resulted in pricing levels on multi-unit investment properties exceeding the cap rates landlord buyer types have traditionally demanded. This is particularly true in thriving city markets with the highest population density. This phenomenon is one of the catalysts for the recent & very substantial investments that have been made in the Grand Bend area over past 12 months, as cap rates here are still respectable! In the wake of a world pandemic proving to the current crop of residential buyers that a work at home lifestyle is attainable, more families & younger generational buyers are migrating to rural areas & smaller towns, especially towns with world class beaches. Smart money is recognizing this trend. During the past year alone, there has been approximately 10 times more capital invested on individual property sales for development purposes on commercial & mixed use properties in Grand Bend than the amount spent on such land & buildings in the previous 15 yrs COMBINED! Why is all of this so crucial for a multi-unit investment property like this one? Stronger customer bases for yr round commercial tenants! And w/ commercial tenancy, landlord's upkeep responsibilities are minimal + the Commercial Tenancies Act is more landlord friendly than the RTA! Easy money in a sweet spot @ the Tim Horton's drivethru! (id:7434)

General Features

Ammenities Beach, Golf Nearby, Marina, Park, Place of Worship, Playground, Schools, Shopping
Building Cooling Type Central air conditioning
Community Features High Traffic Area, Community Centre
Features Park/reserve, Golf course/parkland, Beach
Foundation Type Poured Concrete
Location Description GPS to 37 Ontario St North, Grand Bend
Maintenance Fee 0.00
More Information Link https://www.realtor.ca/real-estate/23713483/37-ontario-street-n-unit-1-grand-bend
Ownership Type Condominium
Property Type Other
Zoning Description C2

Interior Features

Basement Type None
Building Fireplace Present False
Building Heating Fuel Natural gas
Building Heating Type Forced air
Construction Style Attachment Attached

Exterior Features

Exterior Finish Brick, Concrete
Land Amenities Beach, Golf Nearby, Marina, Park, Place of Worship, Playground, Schools, Shopping
Landscape Features Landscaped
Parking Space Total 48
Sewer Municipal sewage system

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Pets
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Condos Average in N0M 1T0

Price
AVG $800K
$1.5M
Visits
AVG 10
14
Year Built
AVG 2001
2001

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