$1,099,000
Available - For Sale
Listing ID: X13662934
35 Ontario Road , Welland, L3B 5C1, Niagara
| Investor/Builder/Contractor Alert: Strong value-add mixed-use investment offering immediate cash flow and significant upside. The property is currently operating at an approximate 9.4% CAP rate, generating $103,000+ in annual net income, with potential to increase to approximately $121,000-an estimated 11% CAP-through cosmetic improvements and market rent adjustments. The approximately 8,000 sq. ft. building is priced below replacement cost and offered "as is, where is." It consists of 4 residential and 3 commercial units. The commercial units are rented month-to-month, with consistent rent collection, but are currently underutilized and primarily used for storage.CC2 Community Commercial zoning permits a wide range of income-producing uses, including restaurants, daycare, take-out food, convenience stores, retail, offices, medical clinics, fitness facilities, etc. The location offers excellent potential for a convenience store or take-out concept, with no similar businesses within approximately 0.5 km. Located near major new developments-including a 300,000+ sq. ft. manufacturing facility and new townhome communities-the property benefits from continued area growth. Additional upside may include adding units at the rear, constructing a third floor, or converting the main floor into four residential units and one commercial unit (subject to buyer due diligence; concept drawings available for reference). Concept drawings and the information brochure are attached to the listing. |
| Price | $1,099,000 |
| Taxes: | $12400.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 35 Ontario Road , Welland, L3B 5C1, Niagara |
| Postal Code: | L3B 5C1 |
| Province/State: | Niagara |
| Legal Description: | PT LTS 209, 210 & 211 PL 565 PART 1 59R1 |
| Directions/Cross Streets: | Canal Bank St - Ontario Rd |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Store With Apt/Office |
| Building Percentage: | T |
| Total Area: | 8000.00 |
| Total Area Code: | Sq Ft Divisible |
| Office/Appartment Area: | 4000 |
| Office/Appartment Area Code: | Sq Ft |
| Retail Area Code: | Sq Ft |
| Area Influences: | Major Highway Public Transit |
| Sprinklers: | No |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Partial |
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| COSMOPOLITAN REALTY |
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Sachi Patel
Broker
Dir:
647-702-7117
Bus:
6477027117
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Store W Apt/Office |
| Area: | Niagara |
| Municipality: | Welland |
| Neighbourhood: | 773 - Lincoln/Crowland |
| Tax: | $12,400 |
| Fireplace: | N |
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