1 SIMCOE Street Penetanguishene

1 SIMCOE Street, Penetanguishene, Ontario

$799,900

Incredible Investment Opportunity Ready For Immediate Possession. Conveniently Located In Historic Downtown Penetanguishene, This Very Clean Three-Unit Corner Building Off Main Street Still Has Its High Ceilings And Original Vaults From 20th Century Tenants (Bank & Insurance Brokers). Occupies A Prime Location For High Traffic Storefront Businesses And Remains Ideally Accessible For Residential Tenants. Unit “A” Offers A Large Open Concept Main Level Commercial Space With Separate Office And An Additional Full-Height Basement (Dry) For Storage And A Bathroom. Unit “B” Consists Of Two Large Rooms, Two Basement Storage Spaces And A Bathroom. Both Commercial Units Have Great Visibility From Main Street. The Upper Level Of The Building, Previously Configured As Two Separate Residential Units, Has More Recently Been Opened Up Into One Large 2-Bed/2-Bath Apartment Space With High Ceilings, Original Hardwood Floors And Lush Carpeting. Potential Of Redeveloping The Second Unit Would Be A Great Way To Increase Revenues And Make The Building Even More Profitable. All Units In The Building Are Currently Vacant And Ready For Tenants To Move In At Market Rents, Meaning You’ll Be Able To Choose Your Own Tenants And The Property Will Be Profitable From The Beginning, With Estimated Potential Rents Of Over $5100/M As Is - Or More If A Fourth Unit Is Created. This Is Also A Great Opportunity To Open A Business And Live Where You Work, While Still Capitalizing On Some Rental Income. A Great Opportunity To Own A Unique Building In An Exceptional Small-Town Setting. Don’t Miss This Excellent Opportunity To Invest. (id:23309)
  • Listing ID: 40514503
  • Property Type: Office
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Details

  • Amenities Nearby: Public Transit
  • Communication: High Speed Internet
  • Community Features: High Traffic Area
  • Features: Visual exposure
  • Ownership: Freehold
  • Transaction: For sale
  • Zoning Description: DW

Building

  • BasementType: Full
  • Exterior Finish: Brick
  • Fireplace Present: False
  • Foundation: Stone
  • Size Exterior: 3058.0000
  • Stories Total: 2
  • Utility Water: Municipal water

Land

  • Amenities: Public Transit
  • Sewer: Municipal sewage system
  • Size Frontage: 43 ft
  • Size Irregular: 0.045
  • Size Total: 0.045 ac|under 1/2 acre

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    This property for sale located at 1 SIMCOE Street in Penetanguishene was last modified on November 17th 2023. Let us connect you with one of our real estate agents to schedule a viewing or subscribe to other properties for sale in Penetanguishene.

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