99 1st Ave S, Arran-Elderslie, N0G 1L0

Listing Overview

Description

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. Run your own business & live in one of the 2 upper apartments, convert the space or enjoy the benefits of leasing three steady revenue streams. The main floor restaurant is clear for a new Tenant, with ideal space for a restaurant, cafe, or retail business. Seating area with booths 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 potential of over 10% with restaurant leased.

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On Market

Commercial/Retail

Property Type

$2,493 / Year

Est. Taxes

Service

Style

Hospitality/Food Related

Business Type

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Franchise