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$ 1,685,000
Est. payment /mo
New
29 SYKES STREET N Meaford, ON N4L1V9
7,850 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 7850
Square Footage 7,850 sqft
Price per Sqft $214
Subdivision Meaford
MLS® Listing ID X13842530
Property Description
In the heart of downtown Meaford, this fully tenanted mixed-use building presents an opportunity to acquire an established, income-producing asset with prominent Main Street frontage. Comprised of approximately 4,800 sq ft of main-floor commercial space and two residential units above, the property combines strong in-place income with future upside in a market attracting continued interest from investors and end users. The main-floor commercial space has been extensively modernized with updated flooring, lighting, drywall, washrooms and mechanical systems, creating a clean and functional environment for long-term tenancy. A current commercial lease provides dependable income from day one. At the rear, a truck-height loading door offers practical access, while an additional approximately 500 sq ft space provides flexibility for storage, service use or potential additional income. A large, dry basement offers further underutilized space. Above, two bright, two-storey residential units feature large windows and 10-foot ceilings. The two-bedroom unit has been updated with a new kitchen and bathroom, while the three-bedroom unit has been freshly painted and retains original character details. Recent capital improvements include roof resurfacing at the rear in 2023 and front in 2024, electrical panel updates, a new furnace and air conditioning, helping to minimize near-term capital requirements. Beyond the existing income streams, the property offers longer-term value-add potential through future rent growth and repositioning. Existing site plan approvals allow for future intensification, including a rear addition, providing flexibility to increase both scale and returns over time. A well-located Main Street holding offering immediate cash flow, established tenancy and multiple avenues for future growth. Financials available upon request. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 1
Garage No
Private Pool No
Listed by Forest Hill Real Estate Inc.
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