22985 LAKERIDGE ROAD, Brock (Cannington), Ontario, L0E1E0

Property Description

This powerhouse investment at 22985 Lake Ridge Road offers a rare combination of residential income and commercial versatility on a nearly a acre lot with two frontages. Bordering Georgina and Brock, the property features five distinct rental streams: a 1000sqft shop/office with two bay doors, three apartments (two upper 2-bedroom and one ground level 1-bedroom), plus a separate 2-bedroom raised bungalow. Zoned hamlet commercial (HC), the potential is massive with permitted uses including a grocery store, medical clinic, restaurant (with drive-in), automotive repair, gas bar, hotel, and retail commercial establishments. The site is ideally located just off the highly visible and accessible Highway 48, and minutes from Lake Simcoe beaches and marinas. Practicality meets profit with 16+ parking spaces, all units on separate meters (tenants pay utilities), and a new drilled well and septic system installed in 2020. This asset has the potential to be a revenue engine. All tenants are currently month-to-month, offering immediate cash flow with future flexibility for any savvy investor or owner-user looking to capitalize on this rural commercial hub. (id:64974)

Quick Facts

• Property Type: House (Freehold)
• Bedrooms: 7 (7 above)
• Bathrooms: 5 (1 half)
• Ownership: Freehold
• Attached: No
• Fireplaces: Yes
• Parking: 23 spaces (Detached Garage, Garage)
• Frontage: 133 ft (40.6 m)

Costs

• Annual Taxes: $8,006.93

Listing Provided by: LPT REALTY
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.