62 Lakeshore Drive For Sale

North Bay, Ferris, P1A 2A3

$650,000

Description

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage.

Discover an exceptional investment opportunity with this robust two-story commercial building, strategically located within walking distance of amenities and Lake Nipissing, additionally, it offers easy access to public transportation. This property combines a long-term commercial tenant on the main floor with three newly renovated, one-bedroom apartments on the upper floor, offering stable and impressive returns supporting a 7.44% cap rate .The commercial space of 2,192 square feet and is leased to an established, long-time tenant on a new 2-year lease, with multiple parking spots available in the side parking lot. The residential units consist of three newly updated one-bedroom apartments, each signed to a 1-year lease and fully occupied, with designated parking spots located at the rear of the building. Financially, this property generates a gross annual income of over $76,000, providing consistent rental income from the commercial lease and secure, year-long agreements ensuring steady cash flow from the residential leases. Don’t miss out on this chance to secure a lucrative addition to your investment portfolio.

Other

Location

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  • Address: 62 Lakeshore Drive
  • Neighborhood: Ferris
  • City: North Bay
  • State: ON
  • Postal Code: P1A 2A3

Property Details

  • Property ID: 40637982
  • Property Price: $650,000
  • Style: Multi-3 Unit, Residential Income
  • Sq/Ft: 4300
  • Parking Spaces: 12
  • Exterior: Block, Stone
  • Heating: Radiator
  • Taxes: $9,372.00 (2024)
  • # of stories: 2

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Property History

This property has been sold 4 times before. To view this property's sale price history please sign in or register:


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Contact Manoj Kukreja

Sales Representative, Re/max Premier Inc., Brokerage
(647) 576 - 2100

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