$699,000
Central Elgin
46349 Sparta Line, Central Elgin (Sparta), Ontario, N0L2H0
This retail property in Central Elgin is for sale offering roughly 3,500 sq ft of space. It has been on the market 29 days, fresher than the Central Elgin average of 82 days.
Excellent investment opportunity in the historic village of Sparta! This versatile five-unit commercial/residential property offers a great mix of income-producing space along with additional future potential. The main level features three separate commercial units, providing flexibility for a variety of businesses, professional services or retail uses. The second floor includes two residential apartments: a two-bedroom unit that is currently tenanted and a vacant one-bedroom unit, offering the opportunity for immediate occupancy or to select your own tenant. Also located on the second floor is a large unfinished open space that may offer potential for an additional residential unit or other use, subject to municipal approvals, zoning and required permits. The property offers ample on-site parking along with a large detached storage building at the rear, providing valuable additional space for tenants, owners or commercial users. An exceptional financing opportunity: the Seller is willing to consider a Vendor Take-Back (VTB) mortgage of up to 80% of the purchase price, subject to mutually acceptable terms and conditions. Further details are available to qualified interested parties. The current owner has resided the rear of the property, added a new accessible ramp and freshly painted the vacant apartment. With multiple income streams, a vacant residential unit, additional unfinished space and the potential for significant vendor financing, this is a unique opportunity for an investor or owner/operator looking to establish themselves in the charming community of Sparta. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 29 days on market, against an average age of 82 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 66 days on the market over the past year, against a median of 48 days across the markets we publish.
This retail in Central Elgin (Sparta) has been listed for 29 days, which is 53 days fresher than the city average of 82. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $699,000, about 7.0× the local median household income of $100,000.
Carrying it typically needs a household income of about $136,539 (20% down, 25-yr amortization, stress-tested) — roughly 37% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0L)
Pick a time that suits you. A verified local agent confirms within 24h.
Commercial lenders price on income, tenancy, and zoning rather than posted rates. Our partner mortgage brokers at iShopRates structure the file and shop lenders for you.
Inquire about financing →No similar listings for sale right now.