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$499,000
Available - For Sale
Listing ID: X12492486
Situated on the newly revitalized Beckwith Street, this mixed-use income property offers strong current returns and exceptional future potential. The main floor commercial tenant pays $1,700 + HST per month, with rent increasing by $50 annually until 2029, and covers all utilities.The upper one-bedroom apartment-previously rented for $1,650/month + utilities-is currently vacant and features a private entrance. The rear bachelor unit, also vacant with its own private entrance, presents significant upside. With an estimated $60,000 renovation, it could be converted into a two-bedroom apartment projected to rent for approximately $1,950/month.With these updates, the property's projected annual rental income could reach $54,000+, representing an impressive 9.02% cap rate. Additional highlights include a new roof membrane and 3" styrofoam insulation of $30,000, municipal water and sewer, and both street and rear parking. A rare opportunity to own a solid cash-flowing property with strong value-add potential in the heart of downtown Smiths Falls.
Price $499,000
Taxes: $3,392.54
Tax Type: Annual
Occupancy by: Tenant
Address: 43 BECKWITH Street , Smiths Falls, K7A 2B4, Lanark
Postal Code: K7A 2B4
Province/State: Lanark
Directions/Cross Streets: Enter Smiths Falls to Beckwith Street. Property at number 43
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Category: Retail
Building Percentage: F
Total Area: 1,800
Total Area Code:  Square Feet
Office/Appartment Area: 0
Office/Appartment Area Code: Sq Ft
Retail Area Code: Sq Ft
Financial Statement: F
Maintenance: 0
Water Expense: $600
Net Income Before Debt: $31207
Expenses Actual/Estimated: $Est
Sprinklers: No
Heat Type: Gas Forced Air Open
Central Air Conditioning: No
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43 BECKWITH Street , Smiths Falls, K7A 2B4, Lanark


 
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At a Glance:
Type: Com - Commercial Retail
Area: Lanark
Municipality: Smiths Falls
Neighbourhood: 901 - Smiths Falls
Style:
Lot Size: x 74.46(Feet)
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Tax: $3,392.54
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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