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Cannington, Brock
$749,000
This Powerhouse Investment At 22985 Lake Ridge Rd N In Brock Offers A Rare Combination Of Residential Income And Commercial Versatility On A Nearly Acre Lot. Centered Around A 5,000+ Sqft 2-Storey Block Building, The Property Features Five Distinct Rental Streams: A Ground-Floor Shop/Office With Two Bay Doors, Three Apartments (Two Upper 2-Bedroom And One Ground Level 1-Bedroom), Plus A Separate 3-Bedroom Raised-Bungalow With Finished Walk-Out Basement. Zoned Hamlet Commercial (HC), The Potential Is Massive With Permitted Uses Including A Grocery Store, Medical Clinic, Restaurant (With Drive-In), Automotive Repair, Gas Bar, Hotel, And Retail Commercial Establishments. The Site Is Ideally Located On A Paved Road Just Off Hwy 48, Minutes From Lake Simcoe Beaches And Marinas, Providing High Visibility And Convenience. Practicality Meets Profit With 16+ Parking Spaces, All Units On Separate Meters (Tenants Pay Utilities), And A New Drilled Well And Septic System Installed In 2020. Whether You Operate A Laundromat, Post Office, Or Furniture Store, This Asset Has The Potential To Be A Revenue Engine. All Tenants Are Currently Month-To-Month, Offering Immediate Cash Flow With Future Flexibility For Any Savvy Investor Or Owner-User Looking To Capitalize On This Rural Commercial Hub.
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 3500-5000 sq. ft. |
| Property Tax | $8,007 |
| Lot Size | 133.2 ft x 238.42 ft |
| mls© Number | N13213088 |
| Listed By | LPT REALTY |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $3,834
- Property tax
- $667
- Heat allowance
- $150
- Housing costs
- $4,651 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$143,000
gross annual household income
- Payment at 4%
- $3,152 / mo
- Cash down
- $149,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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