62 LAKESHORE Drive Active Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1A2A3
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 4,300 sqft
Price per Sqft $151
Subdivision Ferris
MLS Listing ID 40637982
Property Description
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 supporting a 7.44% cap rate .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 generates 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:24570)
Location
Province ON
Interior
Cooling None
Exterior
Garage No
Community Features High Traffic Area,School Bus
Waterfront No
View Y/N No
Building
Story 2
Sewer Municipal sewage system