Store W Apt/Office · For sale

12 Centre Street, Markham

$1,630,000

Listing brokerage: HOMELIFE/BAYVIEW REALTY INC. · MLS® N14117002

Property report for this address · zoning, second units, flood, schools (public records)

Listing brokerage

HOMELIFE/BAYVIEW REALTY INC.

Type

Store W Apt/Office

Deal

For sale

Category

Commercial · Retail

Size

1,500 sq ft

Lot

22 x 126 ft

Area

Old Markham Village

MLS® number

N14117002

Description

Rare Investment Opportunity in the Heart of Markham! Own a charming heritage property near Main Street Markham Road, offering an exceptional blend of commercial and residential income potential. This attractive corner building features a ground-floor retail space plus two residential apartments, making it an ideal opportunity for investors seeking a mixed-use asset or end users looking to establish their business while generating rental income.The ground-floor commercial unit is leased at $4,500/month + HST, with a 5-year lease and an additional 5-year renewal option. The residential component includes a 2-bedroom, 1-bathroom apartment with estimated rental potential of $2,800/month and a 1-bedroom, 1-bathroom apartment with estimated rental potential of $2,000/month. All rents are plus water and hydro. Each unit is separately metered for hydro, while water is shared.The existing retail tenant may remain and negotiate a new 5-year lease, or vacate to accommodate another permitted use, subject to applicable approvals. A variety of potential uses may include a veterinary clinic, commercial school, medical or fitness facility, art gallery, professional office, restaurant, retail store and more.Whether you're expanding your investment portfolio, seeking a property with multiple income streams, or envisioning a location for your own business with residential rental income, this versatile heritage property offers outstanding flexibility and long-term potential in a desirable Markham location. A unique opportunity to invest, operate and grow!

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