62 Lakeshore Drive North Bay, Ontario P1A 2A3
$650,000
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:47351)
Property Details
| MLS® Number | 40637984 |
| Property Type | Office |
| AmenitiesNearBy | Public Transit |
| CommunityFeatures | High Traffic Area |
| EquipmentType | Other |
| RentalEquipmentType | Other |
Building
| BasementType | None |
| StoriesTotal | 2 |
| SizeExterior | 4300.0000 |
| SizeInterior | 4300 Sqft |
| UtilityWater | Municipal Water |
Land
| AccessType | Road Access |
| Acreage | No |
| LandAmenities | Public Transit |
| Sewer | Municipal Sewage System |
| SizeDepth | 100 Ft |
| SizeFrontage | 80 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | C6l |
https://www.realtor.ca/real-estate/27335367/62-lakeshore-drive-north-bay
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
October 15 2024 03:41:02
North Bay Real Estate Board
Realty Executives Local Group Inc. Brokerage