99 1st S Avenue, Arran-elderslie, ON N0G 1L0

This is a fantastic opportunity for someone looking to invest in a commercial property in Downtown Chesley! This Historic brick building has both commercial & residential spaces with multiple options. Enjoy the benefits with three steady revenue streams!! The main floor restaurant is leased as Restaurant space, with seating area and dining counter, Hot Table and cold display case, ideal for take-out or dine-in options. Fully equipped with a walk-in cooler, fire suppression system, gas stove, double ovens, freezer, and prep area. Office, Basement storage space and convenient back access for deliveries. Electric Furnace Forced air, 200 amp service. Two occupied apartments upstairs with steady stream of rental income. One 2 bedroom and one 1 bedroom, each with their own laundry. Baseboard Heating, separate hydro meters and Hot water tanks upgraded in 2019. Water billed separately and currently paid by the landlord. Chesley is a busy town with plenty of opportunities, and its a short drive Owen Sound, surrounding towns and Lake Huron. This property provides a great balance of commercial potential and residential income, all in a welcoming community near major employment opportunities. If someone is looking to take the leap into owning a business or looking for a property with existing tenants, this could be a perfect fit. High cap rate of over 10% with all three spaces leased. All equipment/appliances as is.

Details

MLS® Number
X12236174

Bathrooms
2

Property Size
3245 Sqft