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
$ 439,000
Est. payment | /mo
4,100 SqFt
$ 439,000
Est. payment | /mo
4,100 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 4100
Square Footage 4,100 sqft
Price per Sqft $107
Subdivision 705 - Chesterville
MLS® Listing ID X13850860
Lot Size 4100.000 Acres
Acres 4100.0
Property Description
Investment & Redevelopment Opportunity in Chesterville's charming waterfront district, this versatile multi-tenant property offers immediate, reliable cash flow paired with exceptional value-add upside. Whether you are looking to hold for strong ongoing yield or build out a landmark high-density footprint, this site provides the perfect balance of income and opportunity. Financial Highlights & Income Potential: In-Place Revenue: Currently generating $2,800/month ($33,600/year) from two fully occupied residential apartments ($2,000/mo combined) and an established chip truck lease ($800/mo). Pro Forma Gross Income: Lease up the remaining vacant spaces to drive gross revenue to $5,300/month ($63,600/year) -nearly doubling your current income with minimal immediate capital expenditure: Residential (4 Units Total): 2 occupied units + 2 vacant units ($1,000/mo each pro forma).Commercial (2 Spaces Total): 1 leased chip truck spot + 1 vacant commercial unit ($1,500/mo pro forma). Development & Value-Add Upside Near-Term Strategy: Immediate cash flow covers holding costs while you lease up vacant units or plan your future development. Assembly & Zoning Scale: Permissive GM (General Mixed-Use) zoning supports a 10-12 unit apartment building on this single lot. A rare find for income-focused buyers, developers, and land-assembly investors alike. Schedule your private showing today to unlock this site's full potential! HST is only applicable to the Commercial part of this property which is approx 25% of the entire property. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Others
Virtual Tour https://mikeclarkproductions.com/29-king-street
Listed by COLDWELL BANKER FIRST OTTAWA REALTY