29 Sykes Street N,Meaford, ON N4L1V9
Meaford, ON N4L1V9
Description
In the heart of downtown Meaford, this fully tenanted mixed-use building presents an opportunity to acquire an established, income-producing asset with prominent Main Street frontage. Comprised of approximately 4,800 sq ft of main-floor commercial space and two residential units above, the property combines strong in-place income with future upside in a market attracting continued interest from investors and end users. The main-floor commercial space has been extensively modernized with updated flooring, lighting, drywall, washrooms and mechanical systems, creating a clean and functional environment for long-term tenancy. A current commercial lease provides dependable income from day one. At the rear, a truck-height loading door offers practical access, while an additional approximately 500 sq ft space provides flexibility for storage, service use or potential additional income. A large, dry basement offers further underutilized space. Above, two bright, two-storey residential units feature large windows and 10-foot ceilings. The two-bedroom unit has been updated with a new kitchen and bathroom, while the three-bedroom unit has been freshly painted and retains original character details. Recent capital improvements include roof resurfacing at the rear in 2023 and front in 2024, electrical panel updates, a new furnace and air conditioning, helping to minimize near-term capital requirements. Beyond the existing income streams, the property offers longer-term value-add potential through future rent growth and repositioning. Existing site plan approvals allow for future intensification, including a rear addition, providing flexibility to increase both scale and returns over time. A well-located Main Street holding offering immediate cash flow, established tenancy and multiple avenues for future growth. Financials available upon request. (id:13843)
Details
| MLS # | X13842530 |
|---|---|
| Listing Type | For Sale |
| Style | Residential Commercial Mix |
| Status | Active |
| Days On Site | 33 |
| Listing Provided By | Forest Hill Real Estate Inc. | SUE CREED |
Features
| SQ Feet | 7,850 |
|---|---|
| Zoning | C1 |
Interior
| Cooling | Fully air conditioned |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Parking
| Parking Total | 1 |
|---|
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 8890 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Meaford |
| Postal Code | N4L1V9 |
| Listing VS Median (in N4L1V9) | |
Price: $1,685,000 low | high Med: $1,685,000 sqft: 7,850 low | high Med: 7,850 $ / sqft: $215 low | high Med: $215 On site: 33 low | high Med: 33 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Meaford |
| Postal Code | N4L1V9 |
| Listing VS Median (in N4L1V9) | |
Price: $1,685,000 low | high Med: $1,685,000 sqft: 7,850 low | high Med: 7,850 $ / sqft: $215 low | high Med: $215 On site: 33 low | high Med: 33 | |
