$650,000
FOR SALE

Triplex

Lot: 80 x 100 ft

62 Lakeshore Drive
North Bay, ON P1A 2A3

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 supporting a 7.44% cap rate .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 generates 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:47421)
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Listed By REALTY EXECUTIVES Local Group Inc. Brokerage
Data Provided By North Bay and Area REALTORS® Association
MLS® Listing Number 40637982
Last Updated Aug 27, 2024
Property Summary
Property Type Triplex

More like this:
Subdivision Ferris
Price History

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Detailed Information
Lot 80 x 100 ft
Amenities Nearby Public Transit, Shopping
Community Features High Traffic Area, School Bus
Equipment Water Heater
Features Laundry- Coin operated
Listing Contract Date 2024-08-27
Location Description Main Street to overpass to Lakeshore Drive.
Ownership Type Freehold
# of Parking Spaces 12
Property Type Multi-family
Rental Equipment Water Heater
Transaction Type For sale
Zoning Description C6L
Building
Basement Type None
Construction Material Concrete block, Concrete Walls
Cooling Type None
Exterior Finish Concrete, Stone
Stories Total 2
Type Triplex
Utility Water Municipal water
Land
Total Size under 1/2 acre
Amenities Public Transit, Shopping
Sewer Municipal sewage system

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