Added 3 months ago
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Type: Commercial/Retail
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Property Type: Commercial
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Zoning: C1-1
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Age: No Data
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Taxes: 27335.59
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MLS®#: S9039077
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Days on Site: 69 Days
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Added: Jul 13, 2024 (3 months ago)
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Updated:
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Last Checked: 10 hours ago
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Listed By: IPRO REALTY LTD.
**Price Reduced** Prime Investment Opportunity: Iconic Income-Producing Property at 31 Bayfield Street, Barrie, ON** Seize the chance to own a landmark building in the heart of one of Canada's fastest-growing cities. This iconic property at 31 Bayfield Street, Barrie, ON, offers a unique blend of historical charm and modern income potential, making it a standout addition to any investment portfolio.**Key Features:** - **Stable Commercial Tenant:** Benefit from a reliable commercial tenant operating a thriving business, ensuring consistent income. - **Prime Residential Units:** The property boasts 28 residential units, situated in one of the county's most expensive rental markets, ensuring high demand and occupancy rates.- **Robust Income Stream:** With a gross annual income exceeding $329,000, this property promises substantial returns.- Net Income $229,317.67 **Historical Significance:** Built in 1876, this building was the first hotel in the Barrie area and remains one of the oldest hotels still standing in Canada. Despite its rich history, it is not deemed a historic property, offering flexibility for future development.- **Vendor Take Back Financing:** Attractive vendor take back financing options available for qualified buyers, making this an even more enticing investment.This property combines an exceptional location, impressive cash flow, and significant future growth potential. Whether you're a seasoned investor or looking to make a strategic addition to your portfolio, 31 Bayfield Street is a prime opportunity. Invest in a property that stands at the crossroads of history and modernity, in a city poised for continued expansion.
Property
Status: Sale
Property Type: Commercial/Retail
Property Type: Multi-Use
Net Income: 221246
Area: Barrie
Community: City Centre
Inside
Air Conditioning: Part
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Radiant
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Fees
Tax Year: 2023
Tax Legal Description: PT LT 62 S/S COLLIER ST PL 2 BARRIE AS IN RO541838; BARRIE
Taxes: $27,336
Expenses: Act
Operating Fees: 108724
Taxes Type: Annual
Land
Cross Street: Five Points Intersec
Municipality District: Barrie
Parcel Number: 588170050
Lot Depth: 124.95 Feet
Lot Frontage: 143.56 Feet
Zoning: C1-1
Commercial Specific
Retail Area: 4038
Retail Area Metric: Sq Ft
Sprinklers: Y
Total Area: 1208
Total Area Metric: Sq Ft
Lot Code: Lot
Financial Statement: Y
Gross Income/Sales: 329970
St John Vianney Separate School
Elementary: CatholicOakley Park Public School
Elementary: PublicCodrington Public School
Elementary: PublicCundles Heights Public School
Elementary: PublicMaple Grove Public School
Elementary: PublicHillcrest Public School
Elementary: PublicBarrie Campus
Secondary: PublicÉSC Nouvelle-Alliance
Secondary: CatholicSimcoe Alternative Secondary School
Secondary: PublicSt Joseph's Separate School
Secondary: CatholicBarrie North Collegiate Institute
Secondary: PublicInnisdale Secondary School
Secondary: Public
