$485,000
$499,000
2.8%For more information regarding the value of a property, please contact us for a free consultation.
509 King Street Midland, ON L4R 3N5
2,400 SqFt
Key Details
Sold Price $485,000
Property Type Commercial
Sub Type Store with Apt/Office,Building and Land
Listing Status Sold
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $202
MLS Listing ID 40599936
Sold Date 10/17/24
Abv Grd Liv Area 2,400
Originating Board The Lakelands
Annual Tax Amount $6,095
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Store with Apt/Office,Building and Land
Property Description
BUSINESS OPPURTUNITY FOR THE FUTURE, AND PASSIVE INCOME FOR THE PRESENT. This is a perfect opportunity for passive income with a residential component. The property is about .25 acres and has an existing convenience store on the main floor as well as a 2 bedroom apartment above. There is ample parking and it's in a high traffic area near the downtown core. The convenience store still has a lease until 2028 which should be more than enough to cover your mortgage. The store has a walk in cooler which accesses the bank of refrigerators and a storage room and washroom. If you aspire to own a convenience store, you could run your own store in this location once the lease is up, or renew the lease with the existing store owner. The 2 bedroom apartment will be vacant in early October 2024 and could be renovated and rented or you can stay in the apartment. Seller also owns #505 King Street, right next door so you could buy and own both properties. *** This listing is for land and building only. ***
Location
Province ON
County Simcoe County
Area Md - Midland
Zoning HC
Direction King Street in Midland to #509 where the Dollar General convenience store is located.
Rooms
Basement None
Kitchen 0
Interior
Fireplace No
Exterior
Lot Frontage 66.0
Lot Depth 165.0
Garage No
Building
Lot Description Ample Parking, City Lot, High Traffic Area, Hospital, Marina, Public Transit, Schools, Visual Exposure
Faces King Street in Midland to #509 where the Dollar General convenience store is located.
Story 1.5
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 1.5
Structure Type Block,Vinyl Siding
New Construction No
Others
Senior Community false
Tax ID 584710080
Ownership Freehold/None
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