$261.58 Per Sq Foot $4,294 est/mo Sourced by Back At You

1 Simcoe Street,Penetanguishene, ON L9M 1V2

Penetanguishene ON, L9M 1V2

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Description

Incredible Investment Opportunity Ready For Immediate Possession. Conveniently Located In Historic Downtown Penetanguishene, This Very Clean Three-Unit Corner Building Off Main Street Still Has Its High Ceilings And Original Vaults From 20th Century Tenants (Bank & Insurance Brokers). Occupies A Prime Location For High Traffic Storefront Businesses And Remains Ideally Accessible For Residential Tenants. Unit A Offers A Large Open Concept Main Level Commercial Space With Separate Office And An Additional Full-Height Basement (Dry) For Storage And A Bathroom. Unit B Consists Of Two Large Rooms, Two Basement Storage Spaces And A Bathroom. Both Commercial Units Have Great Visibility From Main Street. The Upper Level Of The Building, Previously Configured As Two Separate Residential Units, Has More Recently Been Opened Up Into One Large 2-Bed/2-Bath Apartment Space With High Ceilings, Original Hardwood Floors And Lush Carpeting. Potential Of Redeveloping The Second Unit Would Be A Great Way To Increase Revenues And Make The Building Even More Profitable. All Units In The Building Are Currently Vacant And Ready For Tenants To Move In At Market Rents, Meaning You’ll Be Able To Choose Your Own Tenants And The Property Will Be Profitable From The Beginning, With Estimated Potential Rents Of Over $5100/M As Is - Or More If A Fourth Unit Is Created. This Is Also A Great Opportunity To Open A Business And Live Where You Work, While Still Capitalizing On Some Rental Income. A Great Opportunity To Own A Unique Building In An Exceptional Small-Town Setting. Don’t Miss This Excellent Opportunity To Invest.

Details

MLS#40514503
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site188
Listing Provided ByKeller Williams Co-Elevation Realty, Brokerage (Midland) | Lorraine Jordan

Features

SQ Feet3,058
BasementY
Story(s)2
ZoningDW
Acreage0.05
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: 5 minutes ago
ProvinceON
CountySimcoe County
CityPenetanguishene
Postal CodeL9M 1V2
AreaPenetanguishene
SubareaPE01 East of Main Street
Community NamePE01 East of Main Street
Listing VS Median (in PE01 East of Main Street)
Price:
$799,900
low | high
Med:
$799,388
50.063945493187% of Average
SqFt:
3,058
low | high
Med:
1,570
98.65925441465% of Average
$ / SqFt:
$262
low | high
Med:
$533
53.629024347483% of Average
On Site:
188
low | high
Med:
73.000000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 1:05:15 PM PDT