LOADING

509 King Street Midland, Ontario L4R 3N5

2400 sqft

$499,000

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. *** (id:51398)

Property Details

MLS® Number 40599936
Property Type Other
Amenities Near By Hospital, Marina, Public Transit, Schools
Community Features High Traffic Area
Features Visual Exposure

Building

Basement Type None
Construction Material Concrete Block, Concrete Walls
Exterior Finish Concrete, Vinyl Siding
Foundation Type Poured Concrete
Stories Total 2
Size Exterior 2400.0000
Size Interior 2400 Sqft
Utility Water Municipal Water

Land

Acreage No
Land Amenities Hospital, Marina, Public Transit, Schools
Sewer Municipal Sewage System
Size Depth 165 Ft
Size Frontage 66 Ft
Size Irregular 0.25
Size Total 0.25 Ac|1/2 - 1.99 Acres
Size Total Text 0.25 Ac|1/2 - 1.99 Acres
Zoning Description Hc

https://www.realtor.ca/real-estate/27011601/509-king-street-midland

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