$1,049,999

For sale

121 Hespeler Road, Cambridge - Retail for Sale

121 Hespeler Road, Cambridge, Ontario, N1R3G9

2,546 ft²61 × 152 ft (9,272 sq ft) lot sizeListed 15 days ago

Overview

This retail property in Cambridge is for sale offering roughly 2,546 sq ft of space. It has been on the market 15 days, fresher than the Cambridge average of 57 days.

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Description

Rare mixed-use investment opportunity on a major arterial in Cambridge. 121 Hespeler Road is a purpose-built, full brick, two-storey property offering an ideal blend of residential income and commercial flexibility. The building consists of three one-bedroom residential apartments, one two-bedroom residential apartment, and a ground-floor commercial unit suitable for office or retail use, with the potential to be converted into a one-bedroom residential unit, subject to approvals. This configuration makes the property particularly attractive for an owner-occupant seeking to operate a business while earning rental income, or for investors looking to enhance residential density. The commercial unit will be vacant on possession, providing an excellent opportunity for professionals, retailers, service-based businesses, or investors seeking a live-work configuration or residential conversion. The space benefits from strong exposure along Hespeler Road and is well suited for a variety of commercial uses. Residential units are accessed through separate common entrances at both the front and rear of the building. The property has been well maintained by the current owner and features durable full brick construction, updated building systems, and vinyl double-pane windows. The building includes ten on-site parking spaces, offering excellent functionality for both residential and commercial occupants. Current residential rents provide stable in-place income with clear opportunity for future optimization, while the vacant commercial unit presents additional income or conversion potential. Dual zoning (C2 Commercial and RM4 Residential) supports continued mixed-use operation and enhances long-term flexibility. Whether for an investor seeking diversified income or an owner-occupant looking to offset business occupancy costs with residential rental revenue, 121 Hespeler Road represents a compelling and versatile opportunity in a high-visibility Cambridge location. (id:66096)

Property Details

MLS®: X14096174
Property Type: Retail
Business Type: Service
Zoning: C2 and Rm4
Interior Size: 2,546 ft²
Lot Size: 61 × 152 ft (9,272 sq ft)
Frontage: 61 ft
Heating: Radiator
Cooling: None
Property Tax: $7,199/yr
Listed: 15 days ago

Features

Lot Features: Irregular lot size

Services

Water: Municipal water
Sewer: Storm sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

15d

Cambridge listings, avg age

57d

Price / ft²

$412

List price

$1.05M

Homes here sell faster than most markets

Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 99.9 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This retail in Cambridge has been listed for 15 days, which is 42 days fresher than the city average of 57. Act while there is still low competition.

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Listed by Bosley Real Estate Ltd. · CHRIS WEHRLE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N1R)

This home lists at $1,049,999, about 13.6× the local median household income of $77,000.

Carrying it typically needs a household income of about $205,102 (20% down, 25-yr amortization, stress-tested) — roughly 166% above the area median.

Median household income: $77,000
Population: 42,928
Median age: 40.8
Owner / renter: 59% / 41%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA N1R)

$1,049,999· $412/ft²

For sale

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