$1,386,400

46 Queen Street W

Elmvale ON, L0L 1P0

Description

Sutton Incentive Realty Inc., Brokerage is pleased to present this fully occupied Residential 4 Plex plus Commercial (Restaurant) unit on Ground Floor. The building features 4 brand new Residential units that were constructed as part of a full renovation to the building. Each residential unit is NEW including individual hydro meters and heated by a natural gas boiler system to delivery radiant heat. The lower restaurant unit is currently having a new fire and sound rated ceiling installed at a cost of $40K to the current owner. The Hood & Suppression System, Commercial Dishwasher and the Commercial walk-in fridge are all Fixtures that belong to the building/LL (all other kitchen equipment is the property of the Tenant). Other improvements to the building include but are not limited too, a new Roof, new electrical, new plumbing, new insulation, new emergency exit staircase, new fire rated ceiling, and new coin operated laundry. Plus much more including potential for 5th apartment unit by converting existing garage into a new unit!! This will certainly improve the cap rate. Elmvale has a growing population. The main library is across the street. Main Highschool is approx 500M south of the subject property. There is a large amount of surface parking directly across the street. Plus the property is located along a busy alternative route to Wasaga Beach and cottage country. Lots of possibilities should a potential buyer want to convert the restaurant into perhaps a dispensary or high end coffee shop or something else! The total cost of all current renovations is approx $400,000. Restaurant is on NET LEASE. *LA IS RELATED TO SELLER. Ask LA for Financial Statement.

Details

MLS#40058534
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site40

Features

SQ Feet5,600
Units5
Building(s)1
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Area Information
ProvinceON
CountySimcoe County
CityElmvale
Postal CodeL0L 1P0
AreaSpringwater
Listing VS Median (in L0L 1P0)
Price:
$1,386,400
low | high
Med:
$599,900
100% of Average
SqFt:
5,600
low | high
Med:
0
100% of Average
$ / SqFt:
$248
low | high
Med:
$0
100% of Average
On Site:
40
low | high
Med:
6
100% of Average
Listing Updated: February 28, 2021 8:00:39 PM PST
Phillip Moore LogoMLS Number: 40058534
Listing Provided By:
Phillip Moore  of  Sutton Group Incentive Realty Inc. Brokerage
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