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From Our Gallery
Description
This powerhouse investment at 22985 Lake Ridge Road offers a rare combination of residential income and commercial versatility on a nearly a acre lot with two frontages. Bordering Georgina and Brock, the property features five distinct rental streams: a 1000sqft shop/office with two bay doors, three apartments (two upper 2-bedroom and one ground level 1-bedroom), plus a separate 2-bedroom raised bungalow. Zoned hamlet commercial (HC), the potential is massive with permitted uses including a grocery store, medical clinic, restaurant (with drive-in), automotive repair, gas bar, hotel, and retail commercial establishments. The site is ideally located just off the highly visible and accessible Highway 48, and minutes from Lake Simcoe beaches and marinas. Practicality meets profit with 16+ parking spaces, all units on separate meters (tenants pay utilities), and a new drilled well and septic system installed in 2020. This asset has the potential to be a revenue engine. All tenants are currently month-to-month, offering immediate cash flow with future flexibility for any savvy investor or owner-user looking to capitalize on this rural commercial hub.
Location Description
Lakeridge Rd & Brock Concession Rd 14
Property Detail
- Community: Cannington
- Property Type: Owner+Tenant/Residential Freehold
- Bedrooms: 7
- Bath: 5
- Garages: Detached
- Annual Property Taxes : $ 8006.93
- sqft
Facts and Features
- Foundation Type: Brick-Concrete Block-Wood
- Counstruction Material : Brick-Concrete Block
- Total Parking Space : 23
- Parking Type : Detached
Amenities
Listing Contracted With: LPT REALTY