6 Water Street, Tehkummah - Business for Sale
6 Water Street, Tehkummah, Ontario, P0P1Z0
This business in Tehkummah is for sale offering roughly 6,300 sq ft of space.
Description
Exceptional mixed-use investment opportunity with property in the gateway community of South Baymouth, Manitoulin Island. This unique offering includes the well-established Pierside Restaurant, Manitoulin Trading Post retail operation & a residential apartment, all situated on approximately 0.665 acres with excellent visibility & exposure to Chi-Cheemaun ferry traffic. The Chi-Cheemaun ferry serves as one of Northern Ontario's most important tourism corridors, carrying approx 186,866 passengers and 68,087 vehicles in 2024 alone. Positioned near the ferry terminal, the property benefits from significant seasonal tourist traffic & strong visibility to visitors entering & leaving Manitoulin Island. The property offers multiple income streams through restaurant, retail, & residential uses. Buyers may explore opportunities to expand operating hours, extend the business season, enhance food and beverage services, increase event & catering activities, strengthen online retail sales, improve marketing initiatives, or further develop the residential component, subject to all required approvals and due diligence. The existing mixed-use configuration may present future development, accommodation, staff housing, hospitality, tourism, or expansion opportunities, subject to municipal approvals, zoning compliance, permits, and buyer verification. Financial information available to qualified purchasers upon execution of a Confidentiality Agreement and Seller authorization. The property features a restaurant, retail space & residential accommodation, with seating for 212 guests approx. & 40 parking spaces. The current owner purchased the business due to its excellent location & outstanding opportunity- is now retiring. Future growth opportunities include extending the operating season, transitioning to year-round operation, expanding catering. (id:66096)
Property Details
- MLS®
- X13474510
- Property Type
- Business
- Business Type
- Restaurant
- Zoning
- Commercial Mixed Use
- Parking
- 20
- Interior Size
- 6,300 ft²
- Lot Size
- 169 × 173 ft (29,185 sq ft)
- Frontage
- 169 ft
- Heating
- Forced air
- Cooling
- Fully air conditioned
- Property Tax
- $10,000/yr
- Listed
- 135 days ago
Features
- Appliances
- Furniture
- Lot Features
- Irregular lot size
Services
- Water
- Municipal water
- Sewer
- Sanitary sewer
Features and services as supplied by the listing brokerage.
Market Timing
Long Listed: 135 days on market, against an average age of 137 days across the listings currently for sale in this city
This business in Tehkummah has been listed for 135 days, which is 2 days fresher than the city average of 137. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (P0P)
This home lists at $2,650,000, about 41.4× the local median household income of $64,000.
Carrying it typically needs a household income of about $517,638 (20% down, 25-yr amortization, stress-tested) — roughly 709% above the area median.
- Median household income
- $64,000
- Population
- 20,285
- Median age
- 50.8
- Owner / renter
- 82% / 18%
- Avg. household size
- 2.3
Source: Statistics Canada, 2021 Census (FSA P0P)
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$2,650,000
Tehkummah