BUSINESS OPPURTUNITY FOR THE FUTURE, AND PASSIVE INCOME FOR THE PRESENT. This is a perfect opportunity for passive income with a residential component. The property is about .25 acres and has an existing convenience store on the main floor as well as a 2 bedroom apartment above. There is ample parking and it's in a high traffic area near the downtown core. The convenience store still has a lease until 2028 which should be more than enough to cover your mortgage. The store has a walk in cooler which accesses the bank of refrigerators and a storage room and washroom. If you aspire to own a convenience store, you could run your own store in this location once the lease is up, or renew the lease with the existing store owner. The 2 bedroom apartment will be vacant in early October 2024 and could be renovated and rented or you can stay in the apartment. Seller also owns #505 King Street, right next door so you could buy and own both properties. *** This listing is for land and building only. *** (id:47421)
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Listed By
Royal LePage In Touch Realty, Brokerage (Honey Harbour)
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Detailed Information
Lot
66 x 165 ft
Amenities Nearby
Hospital, Marina, Public Transit, Schools
Community Features
High Traffic Area
Features
Visual exposure
Listing Contract Date
2024-06-07
Location Description
King Street in Midland to #509 where the Dollar General convenience store is located.
Ownership Type
Freehold
Property Type
Other
Transaction Type
For sale
Zoning Description
HC
Building
Basement Type
None
Construction Material
Concrete block, Concrete Walls
Exterior Finish
Concrete, Vinyl siding
Foundation Type
Poured Concrete
Stories Total
1.5
Size (Exterior)
2400
Utility Water
Municipal water
Land
Total Size
0.25 acres
Amenities
Hospital, Marina, Public Transit, Schools
Sewer
Municipal sewage system
Size of Irregular Land
0.25
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