$599,999
Available - For Sale
Listing ID: X12629028
34 Market Street North , Smiths Falls, K7A 2E6, Lanark
| Offered at $599,999, this turn-key mixed-use triplex enjoys a prime downtown location in the vibrant heart of Smiths Falls (Walk Score 90), just one property from the corner and perfectly positioned for strong returns once fully leased. The property features a high-visibility 1,350 sq ft ground-floor retail space with contemporary finishes, large street-front display windows and excellent signage opportunities, projected to lease at $15 psf net ($1,675/month) on a true triple-net basis plus $8,614 in annual recoverable operating costs returned to the landlord, with hydro, gas and water separately metered or submetered to the tenant. The second floor offers two bright and spacious 2-bedroom, 1-bath apartments, each with its own private street-level entrance, brand-new flooring, contemporary LED lighting, fresh neutral paint, updated 3-piece bathrooms and brand-new in-suite washer and dryer; one unit includes brand-new kitchen appliances (oven, dishwasher and refrigerator), while the second offers clean, like-new appliances in excellent condition. Currently, the retail space and one residential unit are vacant and ready for tenancy, with the vacant apartment expected to command $1,830/month plus hydro and submetered water. There is no parking on site, but abundant free street parking is available directly out front. Pro-forma gross revenue (after a conservative 5% vacancy allowance) is projected at $65,952 annually, generating a Year-1 net operating income of $49,252 once stabilized and delivering a solid entry cap rate of 8.21% at the $599,999 list price. Located mere steps from cafés, restaurants, shops, the Rideau Canal and all downtown amenities, this low-maintenance, high-demand asset offers meaningful upside and long-term appreciation in one of Eastern Ontario's most charming and rapidly revitalizing towns-schedule your private viewing today. |
| Price | $599,999 |
| Minimum Rental Term: | 60 |
| Taxes: | $6133.41 |
| Tax Type: | Annual |
| Occupancy: | Partial |
| Address: | 34 Market Street North , Smiths Falls, K7A 2E6, Lanark |
| Postal Code: | K7A 2E6 |
| Province/State: | Lanark |
| Legal Description: | PT LT 219 S/S RUSSELL ST PL 13884 LANARK |
| Directions/Cross Streets: | Russell St E |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Retail |
| Building Percentage: | T |
| Total Area: | 1350.00 |
| Total Area Code: | Square Feet |
| Retail Area Code: | Sq Ft |
| Financial Statement: | F |
| Chattels: | F |
| Management Expense: | 3040 |
| Water Expense: | $440 |
| Vacancy Allowance: | 5 |
| Net Income Before Debt: | $49253 |
| Expenses Actual/Estimated: | $Est |
| Sprinklers: | No |
| Washrooms: | 1 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
| Sewers: | Sanitary+Storm |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE INTEGRITY REALTY |
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Lynn Tribbling
Sales Representative
Dir:
416-252-2221
Bus:
416-383-9525
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Commercial Retail |
| Area: | Lanark |
| Municipality: | Smiths Falls |
| Neighbourhood: | 901 - Smiths Falls |
| Tax: | $6,133.41 |
| Baths: | 1 |
| Fireplace: | N |
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