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$ 2,199,998
Est. payment | /mo
$ 2,199,998
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Subdivision 804 - Merrickville
MLS Listing ID X13458216
Annual Tax Amount $12,389
Tax Year 2025
Property Sub-Type Commercial Retail
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.
Location
Province ON
County Leeds And Grenville
Area Leeds And Grenville
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 276.31
Lot Depth 331.94
Building
Building Age 6-15
Others
Security Features No
ParcelsYN No
Listed by RE/MAX HALLMARK REALTY GROUP
Nearby Locations
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