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Currently operating as a Dental Office & Denture Centre with 3 additional private residential apartments. Zoning allows for a versatile array of uses for main floor office space. Modern layout and high quality finishes throughout. No need to deal with below market rents since residential units are readily vacant and meticulously taken care of. Tremendous upside potential for savvy investors offering a 5.81% cap rate at full capacity. Alternatively, the ideal investment for professionals seeking to open their own practice benefiting with a combined work and live-in space. Stand out in your industry as you mitigate overhead operating costs while maximizing the rental income potential. Drastically eliminate your commute time while increasing efficiency and quality of life. Convenient location with simple public transit accessibility. Strategic corner lot allows for enhanced visibility for high foot traffic directly off Yonge St. Private driveway allows for 12 vehicle parking spaces in tandem with the potential to expand. Oversized garage allows for additional parking / storage space or possible conversion. Truly an exceptional opportunity to enhance your real estate portfolio and fast track your success! **EXTRAS** 1st Floor fully equipped dental office designed to accommodate wide range of dental services. 2nd Floor apartment: spacious 3 bed unit w/ massive loft. Basement: 1 bed & bachelor unit. 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Description
Residential Development Opportunity On Bayview Avenue In The Heart Of Newmarket! Official Plan Amendment Approved In June 2024 Allows Medium Density Development Of 16756 & 16764 Bayview Avenue Permitting An Apartment Building Up To Five Storeys! Close To All Existing Infrastructure And Public Facilities Including Major Highways, Southlake Regional Hospital, Pickering College, GO Transit, Recreational Centres, And Fairy Lake Park. Zoning By-Law R1-D In Place For Total Gross Floor Area Of 52,540 Sqft. Must Be Purchased Together With 16764 Bayview (N12097109). Could Be Developed As A Rental Building! Strong Demand For Residential And Rental Units In The Area Promises Significant Returns For Investors And Developers.
Details
MLS® Number
N12097113
N12097113
Property Size
14628.14 Sqft
14628.14 Sqft
Additional details
- Utilities: Yes
- Cooling: Yes
- County: York
- Property Type: Commercial Sale
- Community Features: Public Transit,Recreation/Community Centre
Address
- Address 16756 Bayview Avenue
- City Newmarket
- State/county ON
- Zip/Postal Code L3Y 3W9