REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,424,900
Est. payment | /mo
6,000 SqFt
$ 1,424,900
Est. payment | /mo
6,000 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $237
Subdivision Coldwater
MLS Listing ID S12246051
Annual Tax Amount $8,440
Tax Year 2024
Property Sub-Type Investment
Property Description
Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 5.8% cap rate and just $100,000 per unit. Take advantage of flexible financing with a potential first-position VTB available up to 70% ideal for investors looking to maximize leverage. The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting.
Location
Province ON
County Simcoe
Community Coldwater
Area Simcoe
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 66.95
Listed by EXP REALTY
GET MORE INFORMATION
