See all 2 photos
2 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$2,199,998
Est. payment /mo
51,677 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 51677
Square Footage 51,677 sqft
Price per Sqft $42
Subdivision 804 - Merrickville
MLS® Listing ID X13458216
Lot Size 49299.441 Acres
Acres 51677.0
Property Description
115 Grenville Way presents a rare opportunity to acquire a purpose-built commercial investment property offering dependable cash flow, strong tenant stability, and immediate upside through future expansion.The property consists of approximately 12,000 square feet of custom-built commercial space situated on a generously sized lot with ample parking and excellent accessibility. The building is comprised of a 9,000-square-foot warehouse and a 3,000-square-foot fitness facility, creating a diversified income stream supported by established long-term tenants.The warehouse component is fully leased to a long-term tenant, providing reliable occupancy and stable rental income. Complementing the industrial space is the town's only fitness center, a well-established and highly active business that has become an essential service within the Merrickville community. The gym enjoys strong membership levels, consistent traffic, and limited competition, positioning it for continued success. Current rental revenue totals approximately $8,500 per month, providing immediate income from closing. Investors will appreciate the property's built-in value-add component, as the owner is willing to construct additional square footage for the fitness facility. The tenant has indicated a willingness to lease the expanded space and pay additional rent, creating a clear pathway to increased revenue and enhanced property value. Investment Highlights 9,000 sq. ft. warehouse leased to a long-term tenant 3,000 sq. ft. fitness facility occupied by Merrickvilles only gym Current rental income of approximately $102,000 annually Opportunity to increase revenue through planned gym expansion Strong tenant retention and established occupancy history Custom-built facility with modern functionality and durable construction Ample parking and efficient site layout Excellent access from a major roadway. Tenants pay all expenses except Building Insurance. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Read Less Info
Listed by RE/MAX HALLMARK REALTY GROUP
GET MORE INFORMATION