$579,999
FOR SALE

Commercial/Retail

Lot: 43.2 x 32.1 ft
2025 Taxes: $6,133.41

34 Market St N
Smiths Falls, ON K7A 2E6 | 901 - Smiths Falls | Lanark

Offered at $579,999, this turn-key mixed-use triplex enjoys a prime downtown location in the vibrant heart of Smiths Falls (Walk Score 90), just one property from the corner and perfectly positioned for strong returns once fully leased. The property features a high-visibility 1,350 sq ft ground-floor retail space with contemporary finishes, large street-front display windows and excellent signage opportunities, projected to lease at $15 psf net ($1,675/month) on a true triple-net basis plus $8,614 in annual recoverable operating costs returned to the landlord, with hydro, gas and water separately metered or submetered to the tenant. The second floor offers two bright and spacious 2-bedroom, 1-bath apartments, each with its own private street-level entrance, brand-new flooring, contemporary LED lighting, fresh neutral paint, updated 3-piece bathrooms and brand-new in-suite washer and dryer; one unit includes brand-new kitchen appliances (oven, dishwasher and refrigerator), while the second offers clean, like-new appliances in excellent condition. Currently, the retail space and one residential unit are vacant and ready for tenancy, with the vacant apartment expected to command $1,830/month plus hydro and submetered water. There is no parking on site, but abundant free street parking is available directly out front. Pro-forma gross revenue (after a conservative 5% vacancy allowance) is projected at $65,952 annually, generating a Year-1 net operating income of $49,252 once stabilized and delivering a solid entry cap rate of 8.21% at the $579,999 list price. Located mere steps from cafés, restaurants, shops, the Rideau Canal and all downtown amenities, this low-maintenance, high-demand asset offers meaningful upside and long-term appreciation in one of Eastern Ontario's most charming and rapidly revitalizing towns.
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Listed By ROYAL LEPAGE INTEGRITY REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X12629028
Last Updated May 06, 2026
Property Summary
Property Type Commercial/Retail

More like this:
Legal Description PT LT 219 S/S RUSSELL ST PL 13884 LANARK S SOUTH ELMSLEY AS IN RS155032; T/W RS155032 TOWN OF SMITHS FALLS
Taxes (2025) $6,133.41
Directions/Cross Streets Russell St E
Neighbourhood 901 - Smiths Falls
Area Lanark
Price History

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Detailed Information
Freestanding Y
Bathrooms 1
Lot 43.2 x 32.1 ft
Air Conditioning Yes
Garage Type None
Heat Type Gas Forced Air Closed
Sewers Sanitary+Storm

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