99 1st Avenue S, Arran-Elderslie, Ontario

About 99 1st Avenue S

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 and recently renovated with new flooring, signage and seating area with dining counter, Hot Table and cold display case. A welcome Breakfast spot in to town. 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. High cap rate of over 10% with all three spaces leased. All equipment/appliances as is. NEW photos of renovated Restaurant space to come! (id:6289)

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