Rare Investment Opportunity in the Heart of Markham! Own a charming heritage property near Main Street Markham Road, offering an exceptional blend of commercial and residential income potential. This attractive corner building features a ground-floor retail space plus two residential apartments, making it an ideal opportunity for investors seeking a mixed-use asset or end users looking to establish their business while generating rental income.The ground-floor commercial unit is leased at $4,500/month + HST, with a 5-year lease and an additional 5-year renewal option. The residential component includes a 2-bedroom, 1-bathroom apartment with estimated rental potential of $2,800/month and a 1-bedroom, 1-bathroom apartment with estimated rental potential of $2,000/month. All rents are plus water and hydro. Each unit is separately metered for hydro, while water is shared.The existing retail tenant may remain and negotiate a new 5-year lease, or vacate to accommodate another permitted use, subject to applicable approvals. A variety of potential uses may include a veterinary clinic, commercial school, medical or fitness facility, art gallery, professional office, restaurant, retail store and more.Whether you're expanding your investment portfolio, seeking a property with multiple income streams, or envisioning a location for your own business with residential rental income, this versatile heritage property offers outstanding flexibility and long-term potential in a desirable Markham location. A unique opportunity to invest, operate and grow! (id:4069)
Address
12 CENTRE STREET
List Price
$1,630,000
Property Type
Retail
Type of Dwelling
Residential Commercial Mix
Transaction Type
Sale
Area
Ontario
Sub-Area
Markham (old Markham Village)
Floor Area
1,500 Sq. Ft.
Lot Size
22 x 126 FT Sq. Ft.
Lot Depth
126 ft
Frontage Length
22 ft
MLS® Number
N14117002
Listing Brokerage
HOMELIFE/BAYVIEW REALTY INC.
Postal Code
L3P2N8
Zoning
C2 Central Commercial
Parking Places (Total)
3
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Fully air conditioned
Water Source
Municipal water
