Excellent opportunity on the Main Street of the ever growing Town of Grand Valley. Zoned Commercial with secondary residential use. Commercial unit has long term tenants. One residential unit (vacant) on main floor with separate entrance and yard from rear as well as in building access. Second floor residential (rented), Future possibilities exist to convert to two units. All units have separate hydro meters. Basement is clean and dry. Main Level apartment is electric heat and balance of building is gas. (id:51158)
Looking for an excellent opportunity on the Main Street of the ever-growing Town of Grand Valley? This property, located at 35 MAIN ST East Luther, is the perfect investment opportunity. With its commercial zoning and secondary residential use, it offers a variety of possibilities for buyers looking to capitalize on the thriving business community in Grand Valley.
1. Long-term Tenants: The commercial unit in this property already has long-term tenants in place, providing a stable source of rental income. This means you can start earning immediately without any additional effort.
2. Separate Entrance and Yard: The main floor residential unit has a separate entrance and yard from the rear, giving privacy and convenience to the residents. This feature is highly sought after by potential tenants, ensuring a high occupancy rate.
3. Potential for Convertibility: The second-floor residential unit is currently rented out, but there are future possibilities to convert it into two separate units. This flexibility allows for increased rental income or the option to sell individual units in the future for a higher return on investment.
4. Individual Hydro Meters: All units in this property have separate hydro meters, which means tenants are responsible for their own utility bills. This eliminates the hassle of dividing utility costs and ensures transparency and fairness in billing.
5. Clean and Dry Basement: The basement of this property is clean and dry, offering additional storage space for tenants or potential for future development. This added bonus makes the property more attractive to tenants and increases its overall value.
A1: Absolutely! The commercial unit is currently occupied by long-term tenants, but if you have your own business or want to start one, you can easily take over the unit once the lease agreement expires. This offers you the opportunity to run your own business in a prime location on the Main Street of Grand Valley.
A2: Yes, there is ample parking available for tenants and their visitors. The property has its own parking lot, ensuring convenience for those who choose to rent the residential units. This feature is highly desirable for tenants, making it easier for you to attract and retain long-term renters.
A3: The main level apartment is equipped with electric heating, while the rest of the building utilizes gas heating. This ensures both energy efficiency and cost-effectiveness for the tenants. By offering a variety of heating options, you can cater to the preferences and comfort of your tenants, attracting a wider range of potential renters.
A4: Absolutely! With separate entrances and individual hydro meters for each unit, you have the flexibility to live in one of the residential units and rent out the others. This not only allows you to generate rental income to offset your living expenses but also provides you with the benefit of being a property owner. It’s a great way to build equity and secure a stable financial future.
A5: The property currently has one vacant residential unit on the main floor, while the second-floor residential unit is rented out. This gives you the opportunity to move in or find a new tenant for the vacant unit, ensuring steady income from day one. With a combination of occupied and vacant units, you can start generating revenue immediately while having the potential to increase your earnings in the future.
| MLS® Number | X7404520 |
| Property Type | Retail |
| Community Name | Grand Valley |
| Amenities Near By | Highway, Recreation |
| Cooling Type | None |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 3,670 Ft2 |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Highway, Recreation |
| Size Depth | 144 Ft ,6 In |
| Size Frontage | 23 Ft ,9 In |
| Size Irregular | 23.82 X 144.58 Ft |
| Size Total Text | 23.82 X 144.58 Ft |
| Zoning Description | Cbd - Commercial |
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