See all 21 photos
21 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$499,000
Est. payment /mo
2 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2 sqft
Price per Sqft $249,500
Subdivision 905 - Bathurst/Burgess & Sherbrooke (South Sherbrooke) Twp
MLS Listing ID X12167570
Annual Tax Amount $2,422
Tax Year 2024
Property Sub-Type Investment
Property Description
Incredible Investment Opportunity Across from Stunning Silver Lake with elevated views! Welcome to a rare and unique property located on Highway 7 just west of Maberly, directly across from the shimmering waters of Silver Lake. Formerly a motel with an on-site restaurant, currently this property has been thoughtfully converted into 18 fully rented long-term rental units charging from $700-$1200 per unit, which brings in more than $14,000.00 a month in revenue offering immediate and steady income. The main building hosts a common area with washer/dryer and a full bathroom with shower, 7 units all with own bathrooms, living area and some with kitchenettes. There are 3 self contained cabins all with own bathrooms, kitchenettes, living area and views, while the back 4 cabins are split into 8 units with a shared bathroom steps away for a total of 18 units on this spectacular property. Situated in a high-visibility location with easy highway access, the property is steps away from Silver Lake Provincial Park, offering swimming, boating, hiking, and more. A public boat launch is just across the road, perfect for tenants and visitors to enjoy. This is an outdoor enthusiasts paradise and just a quick 10-minute drive to the vibrant village of Sharbot Lake for shopping, dining, and community events. With a solid rental history, beautiful surroundings, and potential for further development or business ventures, this property invites endless possibilities. Continue with the current rental model or reimagine the space to suit your vision. A scenic, income-producing gem with endless potential
Location
Province ON
County Lanark
Community 905 - Bathurst/Burgess & Sherbrooke (South Sherbrooke) Twp
Area Lanark
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 351.0
Lot Depth 246.0
Others
Security Features No
Read Less Info
Listed by CENTURY 21 SYNERGY REALTY INC