See all 5 photos
5 photos
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
UPDATED:
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.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
Zoning C2+EP
Interior
Cooling Partial
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot
Read Less Info
Lited by EXP REALTY
More buyers are choosing LPT Realty for one simple reason — results. With a focus on personalized service, expert guidance, and a modern approach to real estate, we make every step of the process smooth, smart, and stress-free. Discover what sets us apart.
Learn More About LPT Realty