46 Queen Street W Elmvale, Ontario L0L 1P0
$1,386,400
Sutton Incentive Realty Inc., Brokerage is pleased to present this fully occupied Residential 4 Plex plus Commercial (Restaurant) unit on Ground Floor. The building features 4 brand new Residential units that were constructed as part of a full renovation to the building. Each residential unit is NEW including individual hydro meters and heated by a natural gas boiler system to delivery radiant heat. The lower restaurant unit is currently having a new fire and sound rated ceiling installed at a cost of $40K to the current owner. The Hood & Suppression System, Commercial Dishwasher and the Commercial walk-in fridge are all Fixtures that belong to the building/LL (all other kitchen equipment is the property of the Tenant). Other improvements to the building include but are not limited too, a new Roof, new electrical, new plumbing, new insulation, new emergency exit staircase, new fire rated ceiling, and new coin operated laundry. Plus much more including potential for 5th apartment unit by converting existing garage into a new unit!! This will certainly improve the cap rate. Elmvale has a growing population. The main library is across the street. Main Highschool is approx 500M south of the subject property. There is a large amount of surface parking directly across the street. Plus the property is located along a busy alternative route to Wasaga Beach and cottage country. Lots of possibilities should a potential buyer want to convert the restaurant into perhaps a dispensary or high end coffee shop or something else! The total cost of all current renovations is approx $400,000. Restaurant is on NET LEASE. *LA IS RELATED TO SELLER. Ask LA for Financial Statement. (id:29438)
Property Details
| MLS® Number | 40058534 |
| Property Type | Multi-family |
| Amenities Near By | Playground, Schools |
| Communication Type | High Speed Internet |
| Community Features | High Traffic Area |
| Features | Southern Exposure, Visual Exposure, Laundry- Coin Operated |
Building
| Bathroom Total | 6 |
| Bedrooms Total | 7 |
| Basement Development | Unfinished |
| Basement Type | Partial (unfinished) |
| Construction Material | Concrete Block, Concrete Walls |
| Construction Style Attachment | Detached |
| Exterior Finish | Brick, Concrete |
| Fire Protection | Smoke Detectors |
| Fireplace Present | No |
| Heating Type | Other, Radiant Heat |
| Stories Total | 2 |
| Size Interior | 4800 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Playground, Schools |
| Sewer | Municipal Sewage System |
| Size Frontage | 24 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Commercial |
Utilities
| Cable | Available |
| DSL* | Available |
| Electricity | Available |
| Natural Gas | Available |
https://www.realtor.ca/real-estate/22739273/46-queen-street-w-elmvale
Interested in this property?
Claudio Baiocchi, REALTOR®
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
Barrie & District Association of REALTORS® Inc.
Sutton Group Incentive Realty Inc. Brokerage
January 26 2021 12:36:33
