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28 Coldwater RD W Severn, ON L0K 1E0
6,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $237
Subdivision Coldwater
MLS Listing ID S12246051
Annual Tax Amount $8,440
Tax Year 2024
Property Sub-Type Investment
Property Description
Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 5.8% cap rate and just $100,000 per unit.The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting.
Location
Province ON
County Simcoe
Community Coldwater
Area Simcoe
Zoning C2+EP
Interior
Cooling Partial
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot
Lited by EXP REALTY