Matthew Tenk
Broker of Record
59 Main Street Grand Bend, Ontario N0M 1T0
$12,500,000
ONE OF A KIND MULTI-CONDO INCOME PROPERTY | 16 CONDOS PRICED INTO 1 SINGLE ENTERPRISE INVESTOR PACKAGE | 8 CAP POTENTIAL @ GRAND BEND'S FAMOUS & BOOMING MAIN BEACH | STEPS TO THE SAND W/ EPIC LAKE VIEW TERRACE & BALCONIES! This hands-off turnkey 16 condo income opportunity is unlike anything that has ever been sold along the prosperous shores of Lake Huron. Just a 2 min walk to the sparkling sandy beaches of Grand Bend, ON, this brand new condo complex is now for sale as 1 single property w/ the new owner's option to sell condos, one at a time, any time! The impressive & extremely well-built concrete & steel structure completed in 2023 offers 16 individual Grand Bend properties in one! There are 14 luxury residential condos providing 22 bedrooms, 20 bathrooms & 14 kitchens, 2 commercial condos fronting Main St providing 2 more bathrooms, housekeeping facilities for the mgmt of the short term rental operation, a heated parking garage, & the most impressive rooftop living space in town w/ panoramic views of Lake Huron, Main Beach, & Grand Bend's world famous sunsets. Bldg is over 20,000 sq ft + the addt'l 4000 sq ft of rooftop living! The roof provides yet another bathroom + storage facilities. The 14 residential condos, during just a fraction of the high season, have already earned an amount of short term rental income comparable to what a 14 unit tenanted apartment building would earn over the course of an entire year, & that's excluding the stellar income from the 2 long-term commercial tenants. Case in point, this isn't just 16 condos, it's a 16 condo package that is making considerable income, income that is exceeding the pro-forma projections at a rate that is likely to produce over 7 figures in annual revenue w/ minimal costs. This property capitalizes on the AirBnB/STR market using efficient & ground-breaking techniques that will ask nothing of the owner, & this turnkey model is included in the purchase price, along w/ all appliances & furniture. Premium X 10! (id:39551)
Property Details
| MLS® Number | 40463022 |
| Property Type | Office |
| Amenities Near By | Marina, Schools |
| Communication Type | High Speed Internet |
| Features | Visual Exposure |
| Parking Space Total | 11 |
| Sign Type | Signband |
Building
| Basement Type | None |
| Exterior Finish | Concrete, Metal, Steel |
| Fire Protection | Security System |
| Fireplace Present | No |
| Foundation Type | Poured Concrete |
| Stories Total | 3 |
| Size Exterior | 20246.9100 |
| Utility Water | Municipal Water |
Parking
| Attached Garage |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Marina, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 142 Ft |
| Size Frontage | 65 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | C10 |
Utilities
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/25912874/59-main-street-grand-bend
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London and St. Thomas Association of REALTORS®
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August 09 2023 04:30:22
