790 CLARE AVENUE, Welland (N. Welland)

$1,600,000

For sale: Other

Property type

Investment

Bedrooms / bathrooms

2 bathrooms

MLS®

MLS® X13481154

Neighbourhood

767 - N. Welland

This is a prime investment/re-development opportunity. The lot is under severance with the city to construct 2 detach houses in the back. It is currently zoned commercial and presently used as a Variety store with a drive through. This property could be used for endless options subject to city's approval. Current zoning would allow commercial and/or residential uses. The present building is sprawled over 2860 square foot and set on a lot measuring 100.32 by 219.29 feet (21999 sqft lot).The total area of the lot promises limitless possibilities, very close to Niagara College and Seaway Mall, Highway 406 is not far away. Environment study and inspection is under way for construction of 2 houses. Price includes the price of both the lots.100k has already been spent to develop the 2 lots. The commercial lot on the front is a successful and profitable operating Variety store with a 2 bed apartment on the upper floor with one washroom. Another washroom is on the main floor. One of the rare Variety stores with a drive through. The Vendor is flexible with the option of selling just the commercial lot condition to severance by the city. This option shall include the land and building plus the operating business, all chattels and equipment. Inventory is not included. Sales of the store and Lotto commission shall be provided on a conditional offer. The Vendor is also open to rent out the Variety store at a price of $50k plus Inventory. The rent shall be $4500 with TMI included. Sales detail shall be provided on a conditional offer. Fantastic opportunity for developers and builders to buy the corner double lots for commercial use and to take over the property to build 2 detach houses. Its a heavy traffic area at the intersection of Woodland and Clare Ave.