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). PRICED BELOW REPLACEMENT COST - HIGH-YIELD VALUE-ADD OPPORTUNITY! Approx. 8,000 SQ. FT. MIXED-USE BUILDING generating $103,000+ NET ANNUAL INCOME (9.4% CAP) with a clear path to approximately $121,000 (11%+ CAP) through strategic rent optimization and minor improvements. Featuring 4 RESIDENTIAL UNITS & 3 COMMERCIAL UNITS, this asset offers stable cash flow with exceptional upside. CC2 (COMMUNITY COMMERCIAL) ZONING permits a wide range of HIGH-DEMAND USES, including restaurants, take-out, day care, convenience store, retail, offices, medical, and fitness. ALSO PROPOSED DRAWINGS AVAILABLE to convert approx. 4,000 SQ. FT. MAIN FLOOR INTO 4 RESIDENTIAL UNITS + 1 COMMERCIAL UNIT, providing a rare opportunity to maximize density and income or execute your own vision. Commercial units are month-to-month, consistently rented yet underutilized (currently storage use), offering immediate repositioning potential with limited competition within ~0.5 KM. Located in a rapidly growing area near a 300,000+ SQ. FT. manufacturing facility and new residential developments, supporting long-term demand and appreciation. Additional upside includes rear expansion potential and possible third-floor addition. A rare opportunity for investors or builders seeking strong cash flow, flexibility, and scalable returns. Property sold "as is, where is." (id:27476)
