$650,000
FOR SALE

Office

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. 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: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 40637984
Last Updated Aug 27, 2024
Property Summary
Property Type Office

More like this:
Subdivision Ferris
Price History

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Detailed Information
Lot 80 x 100 ft
Amenities Nearby Public Transit
Community Features High Traffic Area
Equipment Other
Listing Contract Date 2024-08-27
Location Description Main street east to overpass to Lakeshore.
Ownership Type Freehold
Property Type Office
Rental Equipment Other
Transaction Type For sale
Zoning Description C6L
Building
Basement Type None
Stories Total 2
Size (Exterior) 4300
Utility Water Municipal water
Land
Total Size under 1/2 acre
Access Type Road access
Amenities Public Transit
Sewer Municipal sewage system

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