$599,000
Malahide
51117 RON MCNEIL Line, Malahide (Springfield), Ontario, N0L2J0
This retail property in Malahide is for sale offering roughly 3,658 sq ft of space. It has been on the market 1 day, fresher than the Malahide average of 73 days.
Opportunity meets flexibility at this prominent corner property at Ron McNeil Line and McIntosh Street. With very low commercial property taxes, flexible C1 zoning, excellent exposure and plenty of on-site parking, this mixed-use property presents a unique opportunity for investors, entrepreneurs, owner-occupiers and developers alike.Currently configured with one commercial unit and two residential units, the property offers multiple income streams and plenty of possibilities. The commercial space was formerly home to a successful, long-standing 92-seat restaurant, with the most recent commercial tenant operating a pizza restaurant, making it well suited for another hospitality concept or one of the many other uses permitted under C1 zoning. The two residential units currently generate $1,750 and $2,300 per month.For an entrepreneur, this could be an ideal opportunity to own the building, operate your business, live on-site and have rental income help offset your mortgage and carrying costs. For an investor or developer, the combination of existing residential income, **exceptionally low commercial taxes**, prominent corner location and potential to further develop or reposition the site creates compelling long-term upside.Additional features include a detached triple-car garage, two furnaces, two separate meters and ample parking. Whether you're looking for an investment, a home for your business, a live/work opportunity or a property with future development potential, this versatile site offers plenty of ways to make it work. (id:66096)
Just listed: 1 day on market, against an average age of 73 days across the listings currently for sale in this city
This retail in Malahide (Springfield) has been listed for 1 day, which is 72 days fresher than the city average of 73. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $599,000, about 6.0× the local median household income of $100,000.
Carrying it typically needs a household income of about $117,006 (20% down, 25-yr amortization, stress-tested) — roughly 17% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0L)
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