Cross Streets: Canal Bank St - Ontario Rd. ** Directions: From Thorold, take Highway 406 S toward Welland. Exit at East Main Street (Regional Rd 27) and turn left. Continue straight to Ontario Road, turn left, and you'll find 35 Ontario Rd on your right (across from the Linamar Giga Casting Factory). Investor/Builder/Contractor Alert: 8000 sqft Building priced below replacement cost! 9.4% CAP Rate with $103,000+ Net Income and Potential to boost income to $121,000 with projected upto 11.05% CAP. Mixed-use investment opportunity offering immediate cash flow with clear value-add upside. The property currently generates $103,000+ in net annual income. Building does need some improvements and rent adjustments to market levels, there is a realistic opportunity to increase net income to approximately $121,000.This is a low-lift value-add opportunity with no major construction required, making it attractive for investors, builders, and contractors looking to enhance value through strategic improvements, stabilize income, and potentially refinance or hold for long-term cash flow.The property currently consists of 4 residential units and 3 commercial units within an approximately 8,000 sq. ft. building, offering in-place income with clear value-add potential. Strategically located near major new developments, including a 300,000+ sq. ft. manufacturing facility and newly built residential townhome communities, the asset benefits from continued area growth and demand. There is additional upside potential, including the possibility to add more units at the rear of the property, construct a third floor, and potentially convert the main floor into four residential apartments and one commercial unit. Concept drawings are available for reference. The information brochure is attached to the Listing. (id:27476)
