Canal Bank St - Ontario Rd Prime Investment Opportunity High CAP Rate with Growth Potential!Welcome to 35 Ontario Road, a high-yield, mixed-use property in the heart of Welland, located directly across from the 300,000 sq. ft. Linamar Giga Casting Factory, which is near completion and set to open in February 2025, bringing 200+ jobs and a significant boost to the local economy. This fully tenanted property delivers a strong 6.5% CAP rate, with the potential to grow to an impressive 9.2% CAP rate through expansion or optimizing rental income. It features 4 residential apartments (3 two-bedroom and 1 three-bedroom, all with private entrances and separate hydro meters) and 2 commercial units on the ground floor, with 1 unit currently owner-occupied, a perfect opportunity for a buyer to establish their own business. The property's prime location makes it ideal for a convenience store/retail store, as there are no similar businesses nearby, ensuring a strong demand and steady customer flow. Situated next to a brand-new subdivision of over 100 townhomes by Multani Homes and adjacent to a site plan-approved lot for a 23-unit apartment development, this property is ideally positioned to benefit from the area's dynamic growth and increasing demand. The 165 ft deep lot offers incredible development potential, with zoning permitting up to 8 stories and drawings available for adding 4 more residential units. A well-maintained and newer roof (2017) makes this a low-maintenance, turnkey investment. Located near Welland Canal, public transit, major highways, and large-scale developments like Empire Homes, this property ensures consistent tenant interest. Include parking for up to 20 vehicles. Don't miss this rare opportunity to capitalize on immediate returns and long-term growth in Niagaras thriving market. .Information Brochure is attached to the Listing. (id:27476)
