59 Main Street Grand Bend, Ontario N0M 1T0
$12,500,000
ONE OF A KIND MULTI-CONDO INCOME PROPERTY | 16 CONDOS PRICED INTO 1 SINGLE ENTERPRISE INVESTOR PACKAGE | 8 CAP POTENTIAL @ GRAND BEND'S FAMOUS & BOOMING MAIN BEACH | STEPS TO THE SAND W/ EPIC LAKE VIEW TERRACE & BALCONIES! This hands-off turnkey 16 condo income opportunity is unlike anything that has ever been sold along the prosperous shores of Lake Huron. Just a 2 min walk to the sparkling sandy beaches of Grand Bend, ON, this brand new condo complex is now for sale as 1 single property w/ the new owner's option to sell condos, one at a time, any time! The impressive & extremely well-built concrete & steel structure completed in 2023 offers 16 individual Grand Bend properties in one! There are 14 luxury residential condos providing 22 bedrooms, 20 bathrooms & 14 kitchens, 2 commercial condos fronting Main St providing 2 more bathrooms, housekeeping facilities for the mgmt of the short term rental operation, a heated parking garage, & the most impressive rooftop living space in town w/ panoramic views of Lake Huron, Main Beach, & Grand Bend's world famous sunsets. Bldg is over 20,000 sq ft + the addt'l 4000 sq ft of rooftop living! The roof provides yet another bathroom + storage facilities. The 14 residential condos, during just a fraction of the high season, have already earned an amount of short term rental income comparable to what a 14 unit tenanted apartment building would earn over the course of an entire year, & that's excluding the stellar income from the 2 long-term commercial tenants. Case in point, this isn't just 16 condos, it's a 16 condo package that is making considerable income, income that is exceeding the pro-forma projections at a rate that is likely to produce over 7 figures in annual revenue w/ minimal costs. This property capitalizes on the AirBnB/STR market using efficient & ground-breaking techniques that will ask nothing of the owner, & this turnkey model is included in the purchase price, along w/ all appliances & furniture. Premium X 10! (id:46638)
Property Details
| MLS® Number | 40463022 |
| Property Type | Office |
| Amenities Near By | Marina, Schools |
| Communication Type | High Speed Internet |
| Features | Visual Exposure |
| Parking Space Total | 11 |
| Sign Type | Signband |
Building
| Basement Type | None |
| Exterior Finish | Concrete, Metal, Steel |
| Fire Protection | Security System |
| Foundation Type | Poured Concrete |
| Stories Total | 3 |
| Size Exterior | 20246.9100 |
| Utility Water | Municipal Water |
Parking
| Attached Garage |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Marina, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 142 Ft |
| Size Frontage | 65 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | C10 |
Utilities
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/25912874/59-main-street-grand-bend
Interested?
Contact us for more information
103-240 Waterloo Street
London, Ontario N6B 2N4
(519) 672-9880
(519) 672-5145
www.royallepagetriland.com
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
August 09 2023 04:30:22
London and St. Thomas Association of REALTORS®
Royal LePage Triland Realty