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Lanark,ON K7A 2B4
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Subdivision 901 - Smiths Falls
MLS Listing ID X12492486
Annual Tax Amount $3,392
Tax Year 2025
Property Sub-Type Commercial Retail
Property Description
Situated on the newly revitalized Beckwith Street, this mixed-use income property offers strong current returns and exceptional future potential. The main floor commercial tenant pays $1,700 + HST per month, with rent increasing by $50 annually until 2029, and covers all utilities.The upper one-bedroom apartment-previously rented for $1,650/month + utilities-is currently vacant and features a private entrance. The rear bachelor unit, also vacant with its own private entrance, presents significant upside. With an estimated $60,000 renovation, it could be converted into a two-bedroom apartment projected to rent for approximately $1,950/month.With these updates, the property's projected annual rental income could reach $54,000+, representing an impressive 9.02% cap rate. Additional highlights include a new roof membrane and 3" styrofoam insulation of $30,000, municipal water and sewer, and both street and rear parking. A rare opportunity to own a solid cash-flowing property with strong value-add potential in the heart of downtown Smiths Falls.
Location
Province ON
County Lanark
Community 901 - Smiths Falls
Area Lanark
Interior
Cooling No
Exterior
Utilities Available Yes