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Home ON Lambton Shores
1 - 37 ONTARIO STREET N
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1 - 37 ONTARIO STREET N $1,499,900
FOR SALE: 3-UNIT/TRIPLE-TENANT commercial condo
Exceptional location
Ample front parking, res condos above park at back
3 Unit Anatomy - Fitness, Office, & Retail
Exceptional proximity to high traffic amenities
Your tenant's customers just a 5 min walk to beach
All in all, a young & superb income property
Starting w/ UNIT 1 (GYM) - your premier tenant
The Grand Bend Gym is a community fixuture
This is long time (20+ yr) tenant!
Let's continue to tour the primary unit
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Primary Tenant in UNIT 1 - Grand Bend Gym
Onto UNIT 2 - A compact office unit
UNIT 2 - A compact office unit
Onto UNIT 3 - the Retail, spa, studio facility
New Accessible door into UNIT 3
UNIT 3 - the Retail, spa, studio facility
UNIT 3 - the Retail, spa, studio facility
UNIT 3 - the Retail, spa, studio facility
Shared/Secured Accessible Washroom - UNITS 2 & 3
NOTE: Residential condos above are NOT included
Well maintained grounds throughout property
Anchor location in growing community!
Come see why smart money is going to Grand Bend!
Lease details & income snapshot
$1,499,900
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1 - 37 ONTARIO STREET N
Lambton Shores (Grand Bend), Ontario N0M1T0

MLS® Number: X11940174

Listing Description

**ATTENTION INVESTORS** scoop up an easy 6 CAP with this hassle free GRAND BEND income opportunity just steps to the 3rd best beach in Canada & situated in a high traffic location in one of the fastest growing rural towns in the country! Attention investors in search of a STABLE & SECURE venue to park some money: This young & fresh 9000 SQ FT 3-UNIT/TRIPLE TENANT commercial condo provides reliable fixed term income across 3 separate units generating just over $90K per yr collectively on 3 separate term leases, all NET NET agreements, with the healthy TMI/CAM (an additional $61K + UTILITIES) leaving the owner with ZERO expenses per yr! As most savvy income-minded investors are aware, successful business tenants in a growing community are likely a safer bet than equities, which is likely the catalyst for the substantial investments that have been made in the Grand Bend area over past 36 months, all simultaneous to more & more families & younger generational buyers migrating to the beach for year round living! Bottom line, the smart money is recognizing this trend & its here in Grand Bend. During the past 4 years alone, there has been approximately 10 X more capital invested on individual property sales for development & investment purposes on commercial & mixed use properties in Grand Bend than the total amount spent on such land & buildings in the previous 20 yrs COMBINED! Why is all of this so crucial for a commercial income property like this one? Because, these trends result in stronger customer bases for the year round commercial tenants at this excellent location! And w/ commercial tenancy, landlord's upkeep responsibilities are minimal + the Commercial Tenancies Act is more landlord friendly than the RTA! This offering provides easy low hassle income in a prime spot w/ everlasting visibility directly across from the Tim Horton's drive thru! Plus, the potential 2 new EV chargers (currently in the approval phase) could generate even more income! 10+ all around! (39781451)

Location Description

Map to 37 Ontario St North, Grand Bend, ON - situated adjacent to the Tim Hortons drive thru & featuring loads of tenant parking & fully accessible entrances done to code!

Property Summary

Property Type
Retail
Building Type
Retail
Community Name
Grand Bend
Age Of Building
16 to 30 years
Annual Property Taxes
$0
Time on REALTOR.ca
97 days

Building

Heating & Cooling
Cooling
Fully air conditioned
Heating Type
Forced air (Natural gas)
Utilities
Water
Municipal water
Neighbourhood Features
Amenities Nearby
Highway, Recreation

Measurements

Square Footage
9000 sqft

Land

Other Property Information
Zoning Description
C2
Data provided by: London and St. Thomas Association of REALTORS® 342 COMMISSIONERS Road West, LONDON, Ontario N6J 1Y3
MIKE SLOAN