Incredible Investment Opportunity in the Heart of Chinatown !


Property

Website:https://www.nestseekers.com/5565367
Address:
West Centre Town K1R 6R6
Canada
Ownership: For Sale
Type: Unknown

Financials

Price:C1,900,000
($1,359,300)
(€1,176,800)
Annual Taxes:C39,105.73

Description

Incredible Investment Opportunity in the Heart of Chinatown! Located on bustling Somerset Street West, this traditional Main Street-zoned property offers excellent passive income potential with a projected annual income of $120,000. A long-standing, well-known restaurant tenant occupies one side of the building under a triple net lease, covering all utilities and minimizing owner expenses.The adjacent unit has recently been rented on a 5 year lease with a 5% yearly escalation starting at $6,400/month + HST. Ideal for an owner-occupier or an investor looking to maximize returns, this space is perfect for a wide range of uses. Major capital improvements already completed: the property features a brand new roof (2025) valued at $63,000, offering peace of mind and long-term savings on maintenance. Zoning permits restaurant or other commercial operations or redevelopment for multi-unit residential, offering flexibility and long-term growth. Property Highlights: High visibility with large street-facing windows, 6 dedicated parking spaces for tenants, prime location with a bus stop right at the door, surrounded by vibrant local businesses and community amenities. Don't miss your chance to own a versatile, income-generating property in one of the city's most dynamic neighbourhoods.

Amenities

  • Available
  • Public Transit

Contact

Angelo Ferlisi
9 Queen Street Unit 7, Cookstown, Ontario
Phone: