Added 3 days ago
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Type: Store W/Apt/Office
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Property Type: Commercial
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Zoning: INSH, CC2
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Age: 51-99 years
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Taxes: 8000
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MLS®#: X11931189
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Days on Site: 3 Days
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Added: Jan 17, 2025 (3 days ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: COSMOPOLITAN REALTY
Prime Investment Opportunity High CAP Rate with Growth Potential!Welcome to 35 Ontario Road, a high-yield, mixed-use property in the heart of Welland, located directly across from the 300,000 sq. ft. Linamar Giga Casting Factory, which is near completion and set to open in February 2025, bringing 200+ jobs and a significant boost to the local economy. This fully tenanted property delivers a strong 6.5% CAP rate, with the potential to grow to an impressive 9.2% CAP rate through expansion or optimizing rental income. It features 4 residential apartments (3 two-bedroom and 1 three-bedroom, all with private entrances and separate hydro meters) and 2 commercial units on the ground floor, with one unit currently owner-occupied, a perfect opportunity for a buyer to establish their own business. The property's prime location makes it ideal for a convenience store/retail store, as there are no similar businesses nearby, ensuring a strong demand and steady customer flow. Situated next to a brand-new subdivision of over 100 townhomes by Multani Homes and adjacent to a site plan-approved lot for a 23-unit apartment development, this property is ideally positioned to benefit from the area's dynamic growth and increasing demand. The 165 ft deep lot offers incredible development potential, with zoning permitting up to 8 stories and drawings available for adding 4 more residential units. A well-maintained and newer roof (2017) makes this a low-maintenance, turnkey investment. Located near Welland Canal, public transit, major highways, and large-scale developments like Empire Homes, this property ensures consistent tenant interest. Include parking for up to 20 vehicles. Don't miss this rare opportunity to capitalize on immediate returns and long-term growth in Niagaras thriving market. .Information Brochure is attached to the Listing.
Property
Status: Sale
Property Type: Store W/Apt/Office
Property Type: Store With Apt/Office
Age: 51-99
Area: Welland
Community: 773 - Lincoln/Crowland
Availability Date: Immediate
Assessment Amount: $460,000
Assessment Year: 2024
Inside
Air Conditioning: Part
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Gas Forced Air Open
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Covered Parking Spaces: 20
Fees
Tax Year: 2024
Tax Legal Description: PT LTS 209, 210 & 211 PL 565 PART 1 59R17218 CITY OF WELLAND
Taxes: $8,000
Taxes Type: Annual
Land
Cross Street: Canal Bank St - Onta
Municipality District: Welland
Parcel Number: 641220128
Lot Depth: 165 Feet
Lot Frontage: 70 Feet
Zoning: INSH, CC2
Commercial Specific
Retail Area: 4000
Retail Area Metric: Sq Ft
Sprinklers: N
Total Area: 9000
Total Area Metric: Sq Ft
Office Size: 4000
Office Size Metric: Sq Ft
Area Influence: Major Highway
Area Influence: Public Transit
Lot Code: Building
École élémentaire Champlain
Elementary: PublicSt Augustine Catholic Elementary School
Elementary: CatholicSt Mary Catholic Elementary School
Elementary: CatholicFitch Street Public School
Elementary: PublicPlymouth Public School
Elementary: PublicDiamond Trail Public School
Elementary: PublicÉcole secondaire Confédération
Secondary: PublicEastdale Secondary School
Secondary: PublicÉSC Jean-Vanier
Secondary: CatholicCentennial Secondary School
Secondary: PublicLakeshore Catholic High School
Secondary: CatholicNotre Dame College School
Secondary: Catholic
