Adult 55+
Address
212 Furnival Road Rodney, ON
Price
$ 899,000
Property Attributes
  • MLS#40190822
  • TypeCommercial
  • CityRodney
  • AreaWest Elgin
  • NeighbourhoodRodney
  • Postal CodeN0L 2C0
  • StyleBuilding and Land
  • Price$ 899,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage5500
Listing Provided Courtesy Of:
RE/MAX CENTRE CITY REALTY INC., BROKERAGE
Data Source:
Ontario Regional (ITSO)
Property Description

This is an amazing investment opportunity yielding a cap rate of 6.6% based on the listing price. Net operating income of 59,071.00. Built around 1885, this historic landmark building in Rodney became a funeral home in 1930 and is owned by Denning Funeral Directors Ltd. The current owners are offering to lease back the funeral home space for a five year term commencing at $4.000.00 per month on a net basis including a 3% annual escalation in the base rent. The main level consisting of approximately 5,500 square feet including the rear addition built in 1992 on a concrete pad has been impeccably maintained through through. The second level is a two bedroom apartment rented at $1,400.00. The sale also includes a vacant lot on the north side of Victoria Street, municipally known as 212 Furnival Road Alley that is used for parking. Copy of current rent roll, main floor building plan and zoning information available to interested parties. For historical information on this building, visit the link: https://westelginfuneralhome.com/939/Rodney-History.html

Price History
11/27/2021 Listed $899,000

Interior Features

Basement Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in N0L 2C0

Price
AVG $700K
$900K
Visits
AVG 13
8
Year Built
AVG 1928
1885

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