$7,999,000
Centre Wellington
50 Mill Street West, Centre Wellington (Elora/Salem), Ontario, N0B1S0
This retail property in Centre Wellington is for sale offering roughly 4,990 sq ft of space.
In the heart of historic Elora, where cobblestone charm meets the gentle flow of the Grand River, stands a property that captures the very essence of this beloved village. Surrounded by artisan shops, cafés, and galleries, this stunning building is more than a place of business; it is a cornerstone of opportunity in one of Ontario's most picturesque and thriving communities. Set along the river's edge, the rear of the property opens to a raised deck and stone patio offering an extraordinary vantage point. Here, the sound of rushing water and views of the Grand create a setting that draws people in and keeps them lingering, an atmosphere ideal for a destination business or a peaceful retreat for those who call it home. The main level features a beautifully maintained commercial unit perfectly suited for a boutique, gallery, or café. With high visibility and steady foot traffic, it offers the ideal stage for an entrepreneur or investor looking to establish a lasting presence in downtown Elora. Above, two separately metered two-bedroom apartments provide additional versatility and income potential. These bright, inviting spaces are rich with character and offer views that celebrate the river and the surrounding heritage architecture. Owning a property that combines commercial and residential spaces opens a world of possibility. Operate your own business below while living steps away, or lease both levels for a steady multi-stream income. The configuration offers flexibility to evolve with your goals today, tomorrow, and years into the future. Few properties balance such beauty, functionality, and potential. With its riverfront setting, historic character, and prime location within Elora's lively core, this is an opportunity to invest in a building that embodies the soul of the village itself - creative, enduring, and full of promise. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 380 days on market, against an average age of 57 days across the listings currently for sale in this city
This retail in Centre Wellington (Elora/Salem) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $7,999,000, about 66.7× the local median household income of $120,000.
Carrying it typically needs a household income of about $1,562,485 (20% down, 25-yr amortization, stress-tested) — roughly 1202% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0B)
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