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$ 599,000
Est. payment | /mo
0.73 Acres Lot
$ 599,000
Est. payment | /mo
0.73 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision 715 - South Stormont (Osnabruck) Twp
MLS® Listing ID X12175658
Lot Size 0.730 Acres
Acres 0.73
Source Cornwall & District Real Estate Board
Property Description
Presenting a rare and versatile investment opportunity this unique commercial-residential duplex offers multiple income streams from one property. Featuring a garage/shop, a seasonal chip stand, and two residential rental units, this property is ideally suited for entrepreneurs or investors looking to capitalize on a diverse portfolio. Currently owner-occupied, the two commercial spaces have strong income potential and are projected to generate approximately $24,000 annually. The residential units are fully rented, producing a combined annual income of $39,600, bringing the total potential revenue to an impressive $63,600 per year. The front residential unit is a spacious three-bedroom suite rented at $1,800/month, while the rear two-bedroom unit earns $1,500/month. The owner currently covers utility expenses, including hydro (approximately $3,184/year) and propane (approximately $3,970/year). Property taxes are $3,276 annually, and insurance is $2,723. Based on these figures, the net income is approximately $50,847, resulting in a solid CAP rate of 8.23% not including additional income potential from the chip stand, which could be rented out separately for further revenue. Recent updates include a propane furnace installed in 2024 in the front unit and a propane fireplace added in 2025 in the rear unit. Additional improvements include a water softener system, on-demand hot water system, new flooring in the rear unit, and a rebuilt back deck. The garage/shop is well-equipped with two bay doors, removable floating walls, a hoist, and radiant ceiling heating well-suited for a range of commercial uses. The chip stand features a built-in water sprinkler system for fire safety and offers attractive seasonal or rental income potential. Please note: all other equipment and business assets are excluded from the sale. (CAP Rate 8.23%) No allowance has been made for utility costs in the unit occupied by owner as the use will change. Currently large cooling for food. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by EXIT REALTY SEAWAY
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1816 Crowchild Trail NW # 700, Calgary, T2M, 3Y7, Canada