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Kawartha Lakes,ON K9V 4R1
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 19,258 sqft
Price per Sqft $168
Subdivision Ops
MLS Listing ID X12110883
Annual Tax Amount $38,379
Tax Year 2024
Property Sub-Type Investment
Property Description
A rare opportunity to take over a well-managed and cared for Retirement Home in South Kawartha Lakes County. This home has over 35 rooms with a mix of studio and one-bedroom units, 2pc and 3pc ensuite bathrooms in most rooms and an operating occupancy rate average of 89%. Excellent mechanicals and upgrades including: updated electrical service (400 amps), new cistern, multiple forced air heating and cooling units, sprinkler system with diesel backup generator, propane generator, updated roofing and windows, new hot water tanks, commercial style kitchen with 6 ft exhaust hood. Improved and profitable trailing 12-month financials as a result of improved occupancy rates and increased room revenues. Exceptionally well-positioned on 2 acres of property and surrounded by existing and future residential development. As a buy-and-hold strategy with solid holding income for future development, this opportunity offers any investor the benefit of current cash flows and upside from future development or land inclusion.
Location
Province ON
County Kawartha Lakes
Community Ops
Area Kawartha Lakes
Zoning ZONE TYPE* I-2 and R3, Instit/Res
Interior
Cooling Partial
Exterior
Parking Features Outside/Surface
Utilities Available Yes
Building
Lot Description Lot