$1,630,000
Markham
12 Centre Street, Markham (Old Markham Village), Ontario, L3P2N8
This retail property in Markham is for sale offering roughly 1,500 sq ft of space. It has been on the market 9 days, fresher than the Markham average of 103 days.
Rare Investment Opportunity in the Heart of Markham! Own a charming heritage property near Main Street Markham Road, offering an exceptional blend of commercial and residential income potential. This attractive corner building features a ground-floor retail space plus two residential apartments, making it an ideal opportunity for investors seeking a mixed-use asset or end users looking to establish their business while generating rental income.The ground-floor commercial unit is leased at $4,500/month + HST, with a 5-year lease and an additional 5-year renewal option. The residential component includes a 2-bedroom, 1-bathroom apartment with estimated rental potential of $2,800/month and a 1-bedroom, 1-bathroom apartment with estimated rental potential of $2,000/month. All rents are plus water and hydro. Each unit is separately metered for hydro, while water is shared.The existing retail tenant may remain and negotiate a new 5-year lease, or vacate to accommodate another permitted use, subject to applicable approvals. A variety of potential uses may include a veterinary clinic, commercial school, medical or fitness facility, art gallery, professional office, restaurant, retail store and more.Whether you're expanding your investment portfolio, seeking a property with multiple income streams, or envisioning a location for your own business with residential rental income, this versatile heritage property offers outstanding flexibility and long-term potential in a desirable Markham location. A unique opportunity to invest, operate and grow! (id:66096)
Features and services as supplied by the listing brokerage.
Active: 9 days on market, against an average age of 103 days across the listings currently for sale in this city
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 97.8 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
This retail in Markham (Old Markham Village) has been listed for 9 days, which is 94 days fresher than the city average of 103. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $1,630,000, about 14.2× the local median household income of $115,000.
Carrying it typically needs a household income of about $318,396 (20% down, 25-yr amortization, stress-tested) — roughly 177% above the area median.
Source: Statistics Canada, 2021 Census (FSA L3P)
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