59 MAIN Street, Grand Bend, Ontario, N0M1T0
$12,500,000 - For sale
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:2471)
Location DescriptionMap to 59 Main St, Grand Bend, ON: Just 230 mtrs from the 3rd best beach in Canada (Grand Bend's famous Main Beach) & steps to the rest of downtown's fantastic amenities is this incredible 16 condo investor package.
- Property Address:59 MAIN Street, Grand Bend, Ontario, N0M1T0
- Property Type:Office
- Lot Size:under 1/2 acre
- Acreage:under 1/2 acre
- Sewage Type:Municipal sewage system
- Water Type:Municipal water
- Access:Road access
- Driveway:Attached Garage
- Parking Space Total:11
- Basement Type:None
- Foundation Type:Poured Concrete
- Exterior Type:Concrete, Metal, Steel
- Amenities Nearby:Marina, Schools
BAILE REALTY INC., BROKERAGE
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59 MAIN Street, Grand Bend, Ontario, N0M1T0
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