Mixed Use Property with Tons of Potential in Rostock, ON (Only 15 mins from Stratford)!! Assigned

  • $299,999
  • 6 beds
  • 1 baths
  • 5800+ sqft

This colossal commercial unit is all-brick, contains a retail store, numerous separate entrances, an oversized garage, and an adjacent 2-storey, 6 bedroom house! It rests on the corner of County Rd 135 in Rostock, a quiet hamlet 15 minutes northwest of Stratford, in Perth County, and 10 minutes to the Stratford Municipal Airport. Formerly an old post office, this commercial property hasn’t been up for sale since 1969 and is a solid investment opportunity. The Investor could flip this property as a single-family home, fix-up the commercial side and keep it as a mixed-use property, or even re-zone and create a multifamily complex! Don’t miss out on the endless opportunities!!

We are selling our assignable purchase contract.

Closing is March 24th, 2021

 

PROPERTY FEATURES
  • 6 bedrooms
    • 5 upstairs and 1 on main floor — please see floor plans HERE
    • Master bedroom on top floor includes a walk-in closet
  • 1 full bathroom (located upstairs)
  • Built in 1902
  • Above grade: approximately 5800 sq ft (as per Seller & MPAC)
  • Unfinished basement: approximately 2000+ sq ft (as per Seller & MPAC)
    • 4 separate stairwells: (numbered on floor plans HERE)
      • 3 – leads to storefront (main floor stairwell located right next to side entrance into house)
      • 4 – leads to main floor, back storage room
      • 6 – leads to storefront entrance
      • 7 –  leads to dining area of house (stairwell is located under stairwell number 1)
  • Loading bay off south side of building (connected to back storage room
  • 200 AMP breaker panel
  • Gas furnace is 1-year-old (as per Seller)
  • HWT is owned
  • Sump pumps in basement
  • Well & septic
  • Metal roof on main building and shingles on back addition
  • Stone foundation
  • 2-car, detached garage
    • New garage doors with automatic door opener
    • Large, upper loft
    • Steel siding appears newer and in great shape
    • Shingled roof
  • Irregular lot: 66 ft frontage
  • Site area: 14,257 sq ft
  • Zoning: C
    • We’ve spoken with the municipality and many of the surrounding buildings are Hamlet Residential. We believe a rezone to Residential would be permitted, allowing the Investor to convert this property into a multi-family (Buyer to verify)
    • This zoning allows for commercial storefronts as well as dwelling units surrounding the storefront. Instead of re-zoning the Investor may have the option to keep the commercial storefront and turn the rest of the space into multiple dwelling units. See HERE.
  • Property code & description: 473 – Retail with more than one non-retail use (as per MPAC)

COMMERCIAL UNIT

  • Open concept front with extension that includes two storage rooms/dens
  • Access to main floor of home through side door in the storefront (next to stairwell 3)
  • Access to upstairs part of home through stairwell 5 (leads to storage/living area) — see floor plans HERE

ADJACENT HOME (main floor) – see floor plans HERE

  • 1 bedroom
  • Kitchen
  • Dining area
  • Laundry room
  • Living room

ADJACENT HOME (top floor) – see floor plans HERE

  • 5 bedrooms
  • 1 bathroom
  • Kitchenette
  • 2 living areas (one is currently unfinished and being used as storage)

PROPERTY NEEDS

  • Full cosmetic renovation
  • Suspected knob & tube wiring
  • Galvanized plumbing still in use in at least one part of the house

 

Please click HERE for more information.

Price:
$299,999
Address:
County Line 44 & County Rd 135
Gads Hill, ON
Square Feet:
5800+
Lot Size:
66 ft frontage (irregular lot)
Bedrooms:
6
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Commercial
Year Built:
1902
Basement:
Unfinished

Call (647) 400-2093 for more details

Property Location