$249,900
Available - For Sale
Listing ID: X14090952
7 William Street East , Smiths Falls, K7A 1C1, Lanark
| SHOVEL-READY MIXED-USE DEVELOPMENT OPPORTUNITY IN DOWNTOWN SMITHS FALLS! Skip 12 months of municipal red tape, carrying costs, and architectural fees. 7 William St. E. is a prime C1-zoned commercial footprint (approx. 30' x 120' lot) being sold with FULLY APPROVED BUILDING PERMITS and Minor Variance (MV-25-01) approvals already in hand. The engineering and design work is complete for a lucrative 4-unit mixed-use build consisting of 3 premium residential rental units and 1 high-visibility main-street commercial retail space. Once completed, this asset boasts a powerful stabilized Pro-Forma Gross Rent Potential of $85,200/year (Projected Net Operating Income of $63,015/year based on modern market rental averages of $7,100/month gross). Tenants pay their own hydro via planned separate metering to maximize landlord margins .Bonus Developer Incentive: This project is highly eligible for the Smiths Falls Community Improvement Plan (CIP), offering potential building permit fee rebates and multi-year property tax increment grants! Break ground immediately and capitalize on the town's surging rental demand. All architectural drawings, approved site plans, and variance document packages are available upon request. Don't build from scratch-start with a project that is already across the finish line! |
| Price | $249,900 |
| Taxes: | $1699.00 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Vacant |
| Address: | 7 William Street East , Smiths Falls, K7A 1C1, Lanark |
| Postal Code: | K7A 1C1 |
| Province/State: | Lanark |
| Legal Description: | PT LT 105 S/S WILLIAM ST PL 13884 LANARK |
| Directions/Cross Streets: | Beckwith & Willim |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 |
| Category: | Designated |
| Total Area: | 3600.00 |
| Total Area Code: | Square Feet |
| Washrooms: | 0 |
| Sewers: | Sanitary Availa |
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| CENTURY 21 SYNERGY REALTY INC. |
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Sumit Chopra
Broker
Dir:
647-964-2184
Bus:
905-230-3100
Fax:
905-230-8577
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At a Glance:
| Type: | Com - Land |
| Area: | Lanark |
| Municipality: | Smiths Falls |
| Neighbourhood: | 901 - Smiths Falls |
| Tax: | $1,699 |
| Fireplace: | N |
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