62 Lakeshore Drive Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1A 2A3
Key Details
Property Type Multi-Family
Sub Type Multi-3 Unit
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 4,300 sqft
Price per Sqft $151
MLS Listing ID 40637982
Abv Grd Liv Area 4,300
Originating Board North Bay
Annual Tax Amount $9,372
Property Description
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.
Location
Province ON
County Nipissing
Area North Bay
Zoning C6L
Direction Main Street to overpass to Lakeshore Drive.
Rooms
Basement None
Kitchen 0
Interior
Interior Features Separate Hydro Meters
Heating Radiator
Cooling None
Fireplace No
Appliance Refrigerator,Stove
Laundry Coin Operated
Exterior
Waterfront No
Roof Type Membrane
Lot Frontage 80.0
Lot Depth 100.0
Garage No
Building
Lot Description High Traffic Area,Public Transit,School Bus Route,Shopping Nearby
Faces Main Street to overpass to Lakeshore Drive.
Story 2
Foundation Slab
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 2
Structure Type Block,Stone
New Construction No
Others
Senior Community false
Tax ID 491680423
Ownership Freehold/None