99 1ST AVENUE S, Arran-Elderslie, Ontario, N0G1L0

Property Description

INVESTOR OPPORTUNITY! A fantastic opportunity if you are looking to invest in a commercial property in Downtown Chesley! This Historic brick building has both commercial & residential spaces with multiple options. Enjoy the benefits with three steady revenue streams!! The main floor is equipped with a full service Restaurant space, recently renovated with new flooring, signage and seating area with dining counter, Hot Table and cold display case. Fully equipped with a walk-in cooler, fire suppression system, gas stove, double ovens, freezer, and prep area. Office, Basement storage space and convenient back access for deliveries. Electric Furnace Forced air, 200 amp service. Two occupied apartments upstairs with steady stream of rental income. One 2 bedroom and one 1 bedroom, each with their own laundry. Baseboard Heating, separate hydro meters and Hot water tanks upgraded in 2019. Water billed separately and currently paid by the landlord. Chesley is a busy town with plenty of opportunities, and just a short drive from west GTA, north Owen Sound, surrounding towns and Lake Huron. This property provides a great balance of commercial potential and residential income, all in a welcoming community near major employment opportunities. High cap rate of just under 10% with all three spaces leased. All equipment/appliances as is. Pictures show restaurant space prior to renovations which have new flooring and dining space. (id:64974)

Quick Facts

• Property Type: Retail
• Bedrooms: None
• Bathrooms: 4
• Living Area: 3,245 sq ft (301.5 m²)
• Frontage: 17 ft (5.2 m)

Costs

• Annual Taxes: $1,940.00

Listing Provided by: COLDWELL BANKER THE REAL ESTATE CENTRE
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.