Commercial Investor - Ontario - March 25, 2023

Compelling Opportunity! Two buildings situated on three lots in perhaps the most exciting area in Waterloo! Looking for live-work space with income and parking? Or perhaps an in ll project/ redevelopment site? This site truly has it all. Situated steps to Waterloo Park’s LRT station (about 100 meters) and in front of the Barrel Works Development, this IS the most intriguing site in Waterloo on the market. Uptown Waterloo, with its shops and nightlight, Waterloo Park and Waterloo Rec Centre are quick walks away. Both universities are accessible by LRT - just a stop away! CIGI across the street. Perimeter Institute and Clay and Glass museum around the corner. 116 Erb is a mixed use building featuring commercial on main oor and a residential unit above. This building could be ideal as live-work space - in a very convenient, very high-pro le area. 110-114 Erb presents as a triplex and was previously rental licensed. Next owner can go to market rents immediately and can capitalize on perhaps the The Best Rental Market in Canada. This is a rare opportunity in the Uptown core. Why settle for a tertiary location when you can own The Best? Opportunity knocks - will you answer?

$100,000+ Gross Annual Income Available Here - with more upswing available! This triplexed building is located just a two minute walk to to Wilfrid Laurier University, a quick walk to the vibrant amenities of Uptown and an easy walk to University of Waterloo. This building comes to you with three City-approved, rental licenses issued by City of Waterloo. Located on a street with properties that are predominantly owned by large multi-residential rental service providers, this is a rare opportunity for the private sector investor! Unit A has seen thousands of dollars in renos before going to market with some newer ooring and paint. Unit B tenants have been in place for a couple of years. There is an opportunity to go to market rents and increase revenue substantially on tenant departure in this unit. All units have generously sized common areas and spacious bedrooms with individual temperature control. Thoughtfully designed with a compelling unit mix of 3, 5, and 6 bedroom units. Ample parking. Note individual electrical meters! Opportunity on Units B and C to move electrical costs to tenant on re-rental. Roof done in 2022!This money maker will work well for: savvy investor looking for a foothold in lucrative Waterloo rental market, parent investor that seeks the ultimate location for their university bound child or even a university employee that wants to live close to work and generate mortgage helper income through the other units. Zoning may also provide future development opportunity when combined with adjacent properties. Let’s book a viewing of 311 Spruce Street - today!

DEVELOPER RENTAL GUARANTEE

The Block – 275 Larch Street, Waterloo – Waterloo’s Ultimate Live Work Play Learn Community

STARTING AT $434,900

•Welcome to The Block! The ultimate Live-Work-Play-Learn space located in close proximity to all the locales that make Waterloo great! Our current opportunities, range from 498-519 square feet – One bedroom and One bedroom plus Den formats available! The developer is offering a 12 month rental guarantee – $1500/month for 498sq ft unit and $1900/month for 519sq ft unit! Premier suite nishes and conveniences available here including plank laminate wood ooring, ceramic tile in bathroom, in suite laundry with stackable washer/dryer, oversized low e argon windows, knock down texture ceilings, granite countertops in kitchen and baths. All units pre-wired for high speed internet, telephone and cable. Five piece Whirlpool appliance package. Individual heating and cooling controls. This well-appointed community will feature a plethora of common amenities – accessible to all community members regardless of building: games room, theatre room, study lounge, business centre, yoga studio, tness room and terrace barbecue space spread throughout the development. The building features water softener, upgraded elevators, ceramic ooring, high ef ciency lighting and buzz board/intercom access control and security cameras. Condo fees include: insurance, common amenity utilities, water, cleaning, landscaping/snow removal, private garbage collection, and maintenance.

MLS®

110-116 Erb Street West, Waterloo

311 Spruce Street, Waterloo

MLS®

MLS®

11 BELMONT AVE W, KITCHENER

$1,595,000

Live/Work Duplex recently renovated situated in a AAA Location, located just a short walk from St Mary’s Hospital and on 2 public transit lines. The 3,600s.f. building features three dedicated entrances, currently with spa/clinic layout on lower 2 levels and a 4 bedroom residential home on upper 3 levels. Featuring 13 recently paved parking spaces, fully fenced back yard area with storage shed, brand new furnace and A/C, state of the art water purifying system with 2 commercial sized water heaters, air exchanger and security system, brand new kitchen. Additional features of this amazing property and business include a fully functional gym area in basement with in fl oor heating, sauna, steam room, contrast showers, custom built soaking tub with underwater traction and more. Don’t miss out on this opportunity to purchase a truly amazing property. MLS.

Investment Opportunity

Great Location close to downtown

Kitchener for this fully rented mixed use semi-detached triplex. Featuring a main fl oor 1,600 square foot commercial unit with 2 recently renovated residential units above. The building generates over $47,000/ year in gross income, is situated on public transit line, has 4 designated parking spaces. Exclusive.

Investment opportunity! Rented on 2 year inclusive lease $4400/month. Beautifully renovated 2 unit, 3 bedroom house with 1 bed accessory apartment in Downtown Kitchener. 1,200+ sq. ft. of above ground living space complete with eat-in kitchen with island, open concept living/dining and main fl oor bedroom plus 2 additional upper level bedrooms. Fully fi nished lower level in-law suite complete with additional bed and bath, living/rec room and full kitchen. Corner lot with private drive and detached garage. This home has been fully renovated top to bottom including: roof, windows, furnace & air, plumbing, electrical, kitchen, bathrooms, fl ooring, siding and more. Prime location situated within walking distance of Google, School of Pharmacy, LRT and close to expressway.

•

• Close to many major businesses including Waterloo Courthouse, Conestoga College, Centre in the Square, Waterloo Region Police, CRA and many offi ces in the Galleria.

•

•

•

•

ft. fully fi nished offi ce space

• Onsite parking for 3+ vehicles

• Available immediately

• $5,000 per month plus utilities

• Finished basement

• Kitchenette

• MLS

CALL REBECCA RAWLINGS

519-578-0337

3 LOCUST STREET, KITCHENER $799,900

CALL RYAN BRIGGS

CALL RYAN BRIGGS

$729,900

550 UPPER JAMES STREET, HAMILTON

Totally renovated multi-purpose Comm. building sit. on 21.45x149.27 lot located on central Mountain enjoys hi-volume of daily vehicular/pedestrian traffic offering ex. visual exposure. Incs 728sf of MF Comm./Retail area operating as est. Hair Salon ftrs 5 work stations, 2 sinks, laundry station & 2pc bath. Boasts mod. frontal facade, brick side/rear walls, front/side MF entries & rear door to 766sf open concept UL office space w/kitchenette, dinette & 2pc bath. Meets all fire separation codes, separate n/g furnaces & AC units, hydro/gas meters & asphalt side driveway w/4 dedicated parking spots. Contact LS re: driveway ROW.

$115,000

Vibrant restaurant business in heart of Dunnville’s downtown, ex. visibility & hi-volume of daily pedestrian traffic. “Small Dimensions” - renowned for outstanding, healthy food w/no additives or preservatives incs steady/loyal clientele base. Ftrs large foyer providing entry to 810sf dining area, 10ft ceilings accommodating 46 patrons & fully equipped 400sf comm. kitchen. New Buyer/ Tenant to negotiate long term lease w/Landlord - all leases to inc permission to use 2 clean washrooms in secured adjacent common area. 2-4 parking spots & street parking. Viewings by appointment only - do not enter during business hours.

$2,175,000

Established, profitable MEAT ABATTOIR located mins W of Hagersville. Incs 19ac parcel w/2 road frontages, newly constructed(2008/09) fully equipped Provincially Inspected Meat Plant w/recent OMAFRA “A” Audit - ftrs food grade approved walls/ceilings/SS doors/equipment. Est. turn-key operation currently specializing in BBQ piglets being sold at in Toronto’s St. Lawrence Farmer’s Market (Buyer to negotiate stall lease). Incs updated 4 beds/2 baths home ftrs lifetime metal roof + metal clad 57x38 outbuilding w/conc. floor, hydro. Aprx.10-12 acres of workable land. *Hydro Easement*. Versatile slaughtering facility allows for processing of beef, pork, sheep & goatsexcellent opportunity to expand on-sight retail store.

$849,000

Rural comm. property incs 2225sf garage/shop & 1100sf renovated 2 bedroom res. unit. 0.69ac corner lot offers ex. visibility & hi-volume of daily traffic ftrs large parking area + priv. E. yard abutting pond (not on property). Res. unit incs open conc. kitchen w/island, living room/dining room w/vaulted ceilings, 4pc bath w/laundry, MF bedroom & UL master. Comm. unit incs 39x42 shop w/14.6’ ceilings, 12x12 RU door, 8x9 RU door, p/g tube heater, new 200 amp hydro, 2 front offices, 8x12 RU door & 2pc bath. “CS” zoning allows for many uses LOW TAXES. Approved 2022 environmental report avail.

$799,900

120 OLD HWY 3,

Jarvis Country Opportunity featuring 1.98 ac corner parcel on desired Old Highway #3 with approximately 434’ feet of frontage weith Industrial zoning component (legal – non conforming). Offering a 2 bedroom, 1 bathroom Bungalow and approximate 103’ x 40’ shop/garage with washroom, office area, & approximate 12 ft ceiling height. Separate water & septic source for the home and the outbuilding. Call LA re: HST, legal non-conforming zoning, tenant vacancy, & more info regarding due diligence. Being sold “as is”. Seller does not represent zoning, septic, water, or any info regarding the property. *No interior viewing of the home until offer has been accepted due to tenant.

209 CHESTNUT STREET, DUNNVILLE

8794 INDIAN LINE, HAGERSVILLE

4078 #3 HIGHWAY, CAYUGA

JARVIS

(office)

(cell)

Great investment property w/ over $100,000 in net income. Desirable Gibson/ Stipley hub! Steps to Tim Horton’s Field. Hands-on owner is retiring, over $148,000 in improvements since 2013 8,400 sq. ft res/com building. 8 units; 3 – 2 bedrm, 2 junior 1-bedrm, 2 bach apts , a 4,200 square ft comm main flr unit. Improvements are: Sept ‘13 new 30 years+ roof w/ 20-year warr, covering materials & labour, Sept. 2013 new camera system, Feb. ‘16 hot water tanks(owned), Sept ‘16 new 400-amp service installed. Oct 2014 upgraded rad heaters w/ bleeders & temp control. Aug 2017 8 new dome skylights. Feb 2020 new boiler. May 2021 upgraded fire & safety retrofit. Steps to Hosp, schools, shops, bus route, highway access. Profit & Loss avail.

Brand new 8500 sq ft industrial building including 2000 sq feet of office space with a large paved and fenced in yard. Located in close proximity to Veterans Memorial Parkway, for easy access to Hwy 401. LI1/LI7 zoning.

12 Survey: More Millennials look to own recreational property

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• Student Residence Opportunity

• Can be purchased individually or together

• 19 Ezra Ave - $9,200,000

• 33 Ezra Ave - $14,000,000

19 & 33 EZRA AVENUE, WATERLOO

• 47 Units, 232 Beds Total

• Free & clear of financing

• Steps from Wilfred Laurier University

• Comprehensive info package available

• 1,350 sq ft

•Located on the corner of Courtland Ave East and Borden Ave South

• Main floor is approx. 850sq ft with a one bedroom apartment above

• $625,000

Christopher Coupal Broker of Record, Principal christopher@coupalmarkou.com 519-742-7000 x 101

John Markou Broker, Principal john@coupalmarkou.com 519-742-7000 x 102

AVENUE, KITCHENER

390 COURTLAND AVENUE E, KITCHENER

LEASE

sq ft

•Walk-up retail unit

•Fresh new look to plaza located on University and Fischer Hallman

•$35.00/sq ft net

LEASE

347

MLS

•6,400 sq ft industrial/ service commercial space

• High dail traffic olu e

•Drive in and drive in loading doors

•$14.00/sq ft net

MLS

• o oor shell office s ace

• Additional rents include utilities & in-suite cleaning

• On-site accessibility

• 2,044 – 4,880 sq ft

• $17.95/sq ft net

LEASE

MLS

•Approx. 2,800 sq ft

•Drive-thru site

•Located on Weber St N and Hickory St

•Close proximity to Universities

•$55.00/sq ft net

MLS

•Excellent visibility

•Utilities included in additional rent

•Abundance of natural light

•1,889 – 3,700 sq ft

•$15.95-$16.95/sq ft net

MLS

•Service industrial warehouse facility

• ffice area doc and dri e in loading

•24’ ceiling heights

•3,193 sq ft

•$13.95/sq ft net

MLS

851 FISCHER HALLMAN ROAD, KITCHENER

WEBER STREET N, KITCHENER

265 WEBER STREET N, WATERLOO

LEASE

520 THOMPSON DRIVE, CAMBRIDGE LEASE

55 ERB STREET E, WATERLOO

22 KING STREET N, WATERLOO LEASE

Survey: More Millennials look to own recreational property

A RE/MAX survey released June 6 and conducted by Leger finds 56 per cent of Millennials are in the market to purchase a recreational property. This is up 14 per cent from last year when 42 per cent of this demographic considered buying recreational property.

In 2018, 91 per cent of recreational markets surveyed reported it was Baby Boomers, especially retirees, who were driving the recreational market. The increase in buying intentions among younger people shows the start of a new trend in who will fuel this segment of the property market, and what they are looking to purchase.

“We are finally witnessing the long-anticipated generational shift of purchasing power from Baby Boomers to Millennials,” says Christopher Alexander, executive vice-president, RE/MAX of OntarioAtlantic Canada. “With the high cost of urban living taking many young homebuyers out of those markets, more Millennials are turning to recreational properties as a viable option for home ownership.”

Price remains the top consideration for recreational property buyers, with 61 per cent of survey respondents naming affordability as the most important factor. However, liveability also plays a crucial role in the selection process.

“This new buyer demographic comes with a different lifestyle and property criteria than those of their Boomer counterparts,” Alexander adds. “Factors like Internet connectivity, recreational activities and proximity to towns with urban conveniences are becoming a more important selling feature.”

The survey also reveals that 64 per cent of Canadians want recreational properties to relax and spend time with friends and family. Forty-three per cent say they are able to do things not available at their permanent residence, such as hiking and fishing, with Millennials ranking higher (50 per cent) than Boomers (38 per cent) in this sentiment.

When it comes to the actual property, the survey also found that other than affordable purchase price, Canadians who own or would consider owning a recreational property named reasonable maintenance costs waterfront access, and proximity to town as the most important factors when purchasing.

These findings differ regionally, with more Atlantic Canadians (39 per cent) looking for seclusion compared to residents in western provinces (28 per cent) or Ontario (26 per cent).

Ontarians, on the other hand, are more likely to look into the property’s proximity to town and

the accessibility of nearby medical facilities.

Additionally, the findings revealed that 54 per cent of Canadians travel (or would like to travel) to their recreational property in about two hours or less, while 22 per cent travel (or would travel) three or more hours. CI

Key findings from the 2019 RE/MAX Recreational Property Omnibus Survey

1. Forty per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property

2. Canadians cite the following reasons to own or want to own a recreational property:

• It is where I can go and relax and spend time with friends and family = 64 per cent

• It is a getaway home

= 58 per cent

• I can do activities I can’t do at my permanent residence (hiking, fishing, etc.) = 43 per cent

• It is an investment property

= 30 per cent

• It is a retirement home

= 20 per cent

• Other = two per cent

3. Thirty per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank the highest at 33 per cent, compared to Boomers at 28 per cent.

4. More than half (54 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up

to two hours, 24 per cent saying they would travel two hours. Slightly less (22 per cent) are willing to travel three or more hours.

5. Canadians identify the following features as important when considering their current recreational property or a future purchase of a recreational property:

• Affordable purchase price

= 61 per cent

• Reasonable maintenance costs

= 46 per cent

• Waterfront access = 45 per cent

• Proximity to town = 44 per cent

• Reasonable distance from primary residence = 35 per cent

• Relative seclusion = 28 per cent

• Land access = 24 per cent

• Proximity to sports/recreation

= 24 per cent

• Nearby neighbouring properties

= 12 per cent

• Island property = seven per cent

• Other = one per cent

• None, don’t mind which features my recreational property has = seven per cent

• Don’t know/prefer not to answer = seven per cent

KITCHENER

MLS® 40364510

MLS® 40364510

INDUSTRIAL BUILDING

6,000 SF | $2,100,000

Chad Ritzer* x 3033

WOODSTOCK

MLS® 40256028

MLS® 40256028

INDUSTRIAL BUILDING

47,102 SF| 10 AC.| $11,250,000

Eric Frey* x 3118

BRESLAU

MLS® 40165651

MLS® 40373566

REDEVELOPMENT SITE

2.108 AC. | $4,300,000

James Boudreau** x 3020

WATERLOO

MLS® 40380666

LEGAL DUPLEX

1,890 SF | $975,000

Eric Frey* x 3118

AVAILABLE FOR SALE

AVAILABLE FOR SALE

KITCHENER

MLS® 40363309

MLS® 40363309

COMMERCIAL BUILDING/LAND

1,242 SF | 0.31 Acres | $1,680,000

CAMBRIDGE

Eric Frey* x 3118

CAMBRIDGE

MLS® 40267992

MLS® 40267992

COMMERCIAL BUILDING

11,679 SF | 0.21 AC. | $2,500,000

James Boudreau** x 3020

BRANTFORD

MLS® 40389801

RETAIL INVESTMENT

25,000 SF | 1.51 AC. | $6,000,000

Lester Tobin* x 3023

WATERLOO

MLS® 40386429

BUSINESS ONLY

BUSINESS FOR SALE $349,000

Lester Tobin* x 3023

Each office is Independently Owned and Operated

Each office is Independently Owned and Operated

WATERLOO

MLS® 40367627

COMMERCIAL BUILDING/LAND

1,600 SF | 0.673 Acres | $3,200,000

Chad Ritzer* x 3033

GUELPH

REDEVELOPMENT LAND

9.53 Acres | $19,500,000 Eric Frey* x 3118

MLS® 40321109

REDEVELOPMENT LAND

John o man* x 3040

9.53 Acres | $19,500,000

Eric Frey* x 3118

John o man* x 3040

GUELPH

MLS® 40389807

RETAIL INVESTMENT

25,374 SF | 2.57 AC. | $5,000,000 Lester Tobin* x 3023

WATERLOO

WATERLOO

MLS® 40377927

MLS® 40377927

BUSINESS ONLY

ESTABLISHED RESTAURANT $129,000

Lester Tobin* x 3023

KITCHENER | RETAIL

KITCHENER | RETAIL

MLS® 40358277

#2-885 GLASGOW STREET

MLS® 40358277

1,147 SF | $28.00/SF

Lester Tobin* x 3023

#2-885 GLASGOW STREET

1,147 SF | $28.00/SF

KITCHENER | OFFICE

Lester Tobin* x 3023

KITCHENER | OFFICE

AVAILABLE FOR LEASE

AVAILABLE FOR LEASE

BRESLAU | RETAIL

BRESLAU | RETAIL

MLS® 40282665

10 TOWNSEND DRIVE

LONDON | RETAIL

LONDON | RETAIL

MLS® 40359959

1775 ERNEST AVENUE

MLS® 40282665

2,558-6,297 SF | $32.00/SF

James Boudreau** x 3020

10 TOWNSEND DRIVE

2,558-6,297 SF | $32.00/SF

KITCHENER | OFFICE

James Boudreau** x 3020

KITCHENER | OFFICE

MLS® 40338977

MLS® 40375135

#4-130 HIGHLAND ROAD E. 711 SF | $25.00/SF

MLS® 40375135

James Boudreau** x 3020

#4-130 HIGHLAND ROAD E. 711 SF | $25.00/SF

WATERLOO | OFFICE

James Boudreau** x 3020

WATERLOO | OFFICE

MLS® 40345214

#202-475 PARK STREET 833 SF | $18.00/SF

MLS® 40345214

James Boudreau** x 3020

#202-475 PARK STREET 833 SF | $18.00/SF

WATERLOO | OFFICE

James Boudreau** x 3020

WATERLOO | OFFICE

MLS® 40338977

MLS® 40391142

#104-375 UNIVERSITY AVE. E.

MLS® 40197286

MLS® 40391142

1,071 SF | $2,231.25/Mth.

Cindy Theoret* x 5020

#104-375 UNIVERSITY AVE. E. 1,071 SF | $2,231.25/Mth.

WATERLOO | COMMERCIAL

Cindy Theoret* x 5020

WATERLOO | COMMERCIAL

MLS® 40367644

325 WEBER STREET N.

99 NORTHFIELD DRIVE E. 695-2,287 SF | $11.95/SF

MLS® 40197286

Chad Ritzer* x 3033

99 NORTHFIELD DRIVE E. 695-2,287 SF | $11.95/SF

KITCHENER | INDUSTRIAL

Chad Ritzer* x 3033

KITCHENER | INDUSTRIAL

MLS® 40372999

1099 GUELPH STREET, #8

MLS® 40367644

1,600 SF | 0.673 Ac. | $8,000/Mth.

Chad Ritzer* x 3033

325 WEBER STREET N. 1,600 SF | 0.673 Ac. | $8,000/Mth.

Chad Ritzer* x 3033

MLS® 40372999

1,800 SF | 0.50 Ac. | $6,000/Mth.

James Boudreau** x 3020

1099 GUELPH STREET, #8

1,800 SF | 0.50 Ac. | $6,000/Mth.

James Boudreau** x 3020

Each office is Independently Owned and Operated

Each office is Independently Owned and Operated

MLS® 40359959

2,420 SF | $24.00/SF

Lester Tobin* x 2023

1775 ERNEST AVENUE

2,420 SF | $24.00/SF

KITCHENER | OFFICE

Lester Tobin* x 2023

KITCHENER | OFFICE

MLS® 40338489

650 RIVERBEND DRIVE

MLS® 40338489

3,153– 10,473 SF | $18.00/SF

Lester Tobin* x 3023

650 RIVERBEND DRIVE

3,153– 10,473 SF | $18.00/SF

ELMIRA | RETAIL/OFFICE

Lester Tobin* x 3023

ELMIRA | RETAIL/OFFICE

MLS® 40367018

10 CHURCH STREET

2,823-6,927 SF | $9.50-$16.00/SF

MLS® 40367018

Chad Ritzer* x 3033

10 CHURCH STREET

2,823-6,927 SF | $9.50-$16.00/SF

BRIGHT | INDUSTRIAL

Chad Ritzer* x 3033

BRIGHT | INDUSTRIAL

MLS® 40364844

856507 OXFORD RD 8, BLDG 2 4,000 SF | $6.00/SF

Lester Tobin* x 3023

856507 OXFORD RD 8, BLDG 2 4,000 SF | $6.00/SF

Lester Tobin* x 3023

Unlimited income potential, 2 properties on .85 acres the residential property is as follows; updated 1750 sq.ft. of living space double car garage and outside parking for 5 cars.

Present on the adjacent property is a commercial turn key operation west side automotive, previously Thruway Muffler. This building includes 2 garages and two office spaces and a public bathroom, multiple entrances which include 4 10ft. garage bay doors.

905-933-3268 tammy.sells@royallepage.ca

Should you buy or lease your commercial space?

One of the trickier decisions many entrepreneurs face is choosing between buying or leasing their place of business.

THERE ARE ADVANTAGES and disadvantages to both options, and the decision requires lots of analysis and planning. Here are some things to consider with each option. Weigh them effectively to help make the best decision for the best business advantage.

When should you buy?

If location is important to you

A great location is hard to find. If you can find one that helps you grow sales through foot traffic and ease of transportation, reduces costs through proximity to key suppliers, and/or attracts and retains

employees, you may want to secure that space by purchasing it.

If you ant to build your personal wealth Commercial real estate has been a great investment for many entrepreneurs in recent years. While there are no guarantees, owning can build wealth separate from your operating company.

If your current leasehold improvements are ettin costly

If you’re investing heavily in a building to run your business, it often makes sense to buy a property. If, however,

the time isn’t yet right to buy, you may want to consider leasehold improvement loans to tide you over.

If you ant to be free of landlord woes If running every aspect of your business without potential limits, restrictions and rent increases is important to you, then you might want to buy a commercial space.

If you need to free up or in capital A well-financed property purchase can free up working capital by reducing your monthly outlay for rent. The difference can be used to build your business. “It’s about balancing growth with cash flow,” says Jean-Philippe Ménard, vice-president, North Shore at BDC. “We often finance those kinds of purchases because we want to make sure our clients will have enough working capital to grow.”

o ever...

If you decide to buy commercial real estate, be sure to pay close attention to the following:

isin interest rates Low interest rates have encouraged many entrepreneurs to buy in recent years, and they have enjoyed considerable market appreciation. However, “there’s a wake-up call coming” for some entrepreneurs in the form of rising interest rates, says Ménard, who works in BDC’s office in Laval, Quebec. He notes that many younger businesspeople have never experienced the rising costs that come with higher rates.

Cash o and stability Before you buy, make sure your company will have the resources to support this commitment in the years to come. Buying a building is a long-term investment.

rotection and due dili ence Be sure to protect yourself from problems that can come with ownership, such as hidden building defects or environmental contamination. Get a building condition inspection (BCA) and

an environmental assessment (ESA), or hire a qualified environmental consulting firm to assess the property before you purchase. Before buying, it’s equally important to get a lawyer to perform thorough due diligence on such issues as land title, zoning, outstanding taxes, liens, easements and other potential problems with the property.

hen should you lease Here’s where it may make more sense to rent a space for your business. If you don t have enou h or in capital Start-ups are often unable to commit a lot of capital to a building, so they will most likely opt to lease. Even if you have an established business, it may not be generating enough cash at this stage to allow you to fund both your growth and your commercial property acquisition. If your business needs are unstable If your company is growing rapidly or downsizing, or you’re just not sure what’s going to happen, you might be better off renting until the situation stabilizes.

ou don t ant the hassle of o nin Owning a property comes with additional responsibility and potential problems. You may prefer to rent and focus on your business for the time being.

o ever...

If you decide to lease, be sure to pay close attention to the following: ption to rene While some entrepreneurs may not want to make a long-term commitment to a location, Ménard cautions that flexibility can work both ways. A landlord can refuse to renew a lease once it expires. That forces your business to relocate, with all the costs associated with doing so.

enovations and improvements

Be sure to find out about restrictions that could limit your ability to expand or use the space in different ways. Specifically, find out whether there are any limitations on making

changes to your space. Do you have to return the property to its original condition when you leave? Do added equipment and fixtures remain your property, or do they become the property of the owner?

ar in Are there enough parking spaces for all tenants and their visitors? Are you guaranteed spaces?

i na e What are your rights when it comes to signage?

andlord responsibilities It’s important to understand what your landlord does and doesn’t pay for before committing to a commercial lease. Specifically, pay close attention to the following:

Common area maintenance Who is responsible for cleaning, repairs and other costs associated with common areas, such as washrooms, entrances, general reception areas and the parking lot? Who pays for snow removal, grass cutting and/or landscaping?

peratin e penses Who pays for property taxes, insurance, utilities, security, and the repair or replacement of equipment such as heating, ventilation and air conditioning units?

inal thou hts

In the end, whether you decide to buy or lease a commercial space, remember the following:

ou re not alone As part of your trusted team of real estate advisors, a lawyer specializing in commercial real estate should review your contract carefully with you to avoid any unpleasant surprises. CI

ell financed property purchase can free up or in capital by reducin your monthly outlay for rent.

George GicopoulosSean Gicopoulos

Understanding your condo docs

BY JACQUELINE MONETA JD WITH ASSISTANCE FROM JAYSON SCHWARZ LLM

have a large impact on your day-today life.

tatus certificate

Condominium declaration

The declaration is like the constitution of a condo. It provides information regarding each suite’s boundaries and share of common expenses expressed as a percentage of the total budget. The declaration also describes any recreational facilities and how they will be used. It can also contain restrictions on the use or occupation of the units and common elements. A review of the declaration will tell you exactly what you are buying.

A declaration can only be changed if more than 80 per cent of the owners agree to the change. This makes subsequent changes to the declaration difficult and rare.

By-laws

The by-laws control how condominium corporations are run. They outline the qualifications of condominium directors, their remuneration (if any), and the quorum necessary for a meeting. The by-laws may also outline when and how the condominium can borrow money. This is important if there is ever a special assessment levied. As an alternative to a special assessment the condo may be able to borrow funds, if allowed in the by-laws, rather than

makeup any shortfalls from the unit owners.

By-laws can be passed, appealed or amended by the board of directors. Before becoming effective, by-laws must be approved by a majority of the units of the corporation and registered with the land registry office.

Condominium rules

The board of directors can also make, amend or repeal rules. The rules govern the safety, security or welfare of the owners and the property or assets of the corporation. They typically prevent unreasonable interference with the use and enjoyment of the common elements or units.

It’s common for the rules to prevent owners from renting out their units for short periods of time (ie. Airbnb) or restrict visitors’ use of the common elements. It is also increasingly common for the rules to limit the number and/or size of pets allowed in the building.

Rules can vary greatly in each condominium, so even if you are familiar with condo living it’s important to review the rules in each building you buy into. They can impact lifestyle choices, which while not legal issues, should be considered carefully as they can

Perhaps the most important document you’ll receive is the status certificate. This document gives buyers details of the financial and legal circumstances for the condominium building. A status certificate will include information regarding increases in common expenses, law suits against the condominium corporation and any upcoming large expenditures for repairs.

A status certificate will also have information about the individual condo unit. It indicates if the current owner is in default of paying common expenses and if any increase in common expenses has been declared by the condominium board.

While sifting through these documents may seem overwhelming, careful review of the rules and regulations governing your condo could save you a lot of time and unexpected cost down the road. You should also seek the advice of a real estate lawyer and accountant who can point out abnormalities or possible red flags.

Don’t forget the best help you can get is from a real estate lawyer who understands condominium law. Be careful and find someone who is knowledgeable and cares about you and your family. This is an important milestone in your life.

Send or fax letters to the magazine or to us, use the website (schwarzlaw. ca), email (info@schwarzlaw.ca) and give us your questions and concerns. We will try to deal with them in print or electronic form. CI

New disclosure requirements in the Condominium Act provide owners with more information than ever, but all of this information can quickly become overwhelming. What are all the documents and what do they tell you? The following is an overview of the rules and regulations governing condo living.

HEY LOOK!!! CLARINGTON IS HOT!!!

PLAZA BOWMANVILLE CLARINGTON

19,000 SQ FT mixed use, 7 commercial units, 8 x 2 bdr apartments. 100% leased. Good net cash flow. Good long term tenants. Good leases with escalations. Good upside. Main Highway 2 frontage and access, good parking. Open to reasonable offers! Upside rental income 2023!

SUPERB INDUSTRIAL REDEVELOPMENT OPPORTUNITY

5 Acres, gravel yarded property. Outside storage. 18,000 SQ FT buildings, ideal for self storage, building supply, contractors, manufacturing. Its ripe. For the picking, excellent Highway 2, Frontage, Ideal self storage site for lease or sale. 35 miles east of Toronto.

PRIME COMMERCIAL CORE - NEWCASTLE - WOW!

Units available for lease. Award winning block. Huge parking lot! Good Anchors, Foodland & Dollarama. Ideal for health well being services. Motivated owners. Ideal commercial cond units in rapid growing Newcastle. Call to inspect. Best building in Newcastle

EAT THIS UP: BUSINESS & BLD FOR SALE NEWCASTLE

Free standing, long term food business + property included! 2500 SQ FT restaurant full licensed, with outdoor patio on major highway - huge parking. Owners to retire after 18+ years - well known. Excellent easy to run food business. Call for details. Owner will hold mortgage OAC.

BEAUTIFUL ESTATE LOTS & ACREAGE IN NEWCASTLE!

Wonderful opportunity to build or develop across a variety of parcels and up to 13 acres! Quiet, in-demand community that’s ideal for estate lots and custom homes! Clear of ENV mapping, severed into 4 lots from existing road allowances. High potential for an end-user, ambitious subdivision, or for any families looking for a lot close to town for their dream-home! Bridal path of million dollar homes.

GREAT NEW INDUSTRIAL BUILD IN BOWMANVILLE

35k sqft high quality presently under construction general industrial warehouse in Clarington with high ceilings and your choice of loading doors. Fantastic corner location. Move in spring 2023. 2 minutes to 401 interchange. Brand new / sprinklered.

COURTICE PLAZA COMMERCIAL SPACE!

High traffic + Well Anchored Units available from 1200 to 1550 SQFT, and from $3600 to $4300 per month! Call for more details!

John Shewchuk Brian Shewchuk

$599,000 Income Opportunity for Family, Professional, or Retirement.

3 Residential Apartments and 1 Commercial Unit.

MLS # X5321173

This property is situated on the four corners of Springbrook Ontario. 15 minutes from Campbellford which has its own hospital. The two intersecting roads connect Springbrook to Campbellford, Stirling, Marmora, and Madoc all about ten to fifteen mins in each direction. All units have fresh neutral paint, flooring, and fixtures. Updated Hydro and wiring include hard wired smoke and carbon monoxide detectors throughout the property. Property also has three garage bays and a loading dock bay. Urban Commercial Zoning allows many uses including variety store, restaurant, cafe, studio, retail shop, gallery, professional o ce, and residential apts. Features 88x187 foot lot and inground swimming pool, 3 four-piece and one two-piece bath. All for $599,000.

SkyViews Your Price for ‘Upside’ Finding Value in the Grey Areas

SkyViews

Your Price for ‘Upside’ Finding Value in the Grey Areas

By Cliff Ford, Skyview Realty

By Cliff Ford, Skyview Realty

With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.

With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.

If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.

If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.

What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.

What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.

When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself

When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself

can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.

can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.

Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.

Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.

To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.

To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.

You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

FORREST KENDLBACHER

416-921-1112

SOLD SOLD

194 Sherbourne St, Toronto

$2,549,900

Established And Successful 4 Unit Airbnb. Fully Furnished And Grossing $150K A Year. Amazing Opportunity To Live In And Collect Income Or Add To Your Portfolio. Large Owner Suite. Legal Fourplex. Fully Renovated And Tastefully Decorated.

560 Queen St W, Toronto

$2,900,000

Prime Queen St West Property On High Pedestrian Traffic Block On The North Side, Just East Of Bathurst. Great Windows And Signage. Amazing Opportunity For User Or Investor. Tenant Has Given Notice To Vacate. Density Allows For 3X Coverage.

1116 College St, Toronto

$2,998,000

Fully Updated & Improved Income Property On College St. All Major Capital Improvements Done Recently. $119,550

Net Income! 4% Cap! Great Commercial Tenants. Good Rents For Apts. Potential For Great Upside On Turnover.

2720 Danforth Ave, Toronto

$8,850,000

Proposed 59,530 Sf Mid-Rise Development. 9 Storey 81 Residential Units, 1 Ground Level Commercial Space And 27 Underground Parking. Steps To Main Subway Station And Go Station. Short Term Tenant In Place. Planning Report From Weston Consulting Available. Development And Rsc Application Underway.

2970 Lake Shore Blvd W, Toronto

$13,950,000

Proposed 9 Storey 95 Residential Units And 5220 Sf Commercial

32 Underground Parking Spaces

98,684 Gfa Mid-Rise Development. Steps To Humber College Campus, Transit. Holding Income From Short Term Tenants In Place.

100 Burland Crescent, Hamilton, Ontario

This 47,400 sq ft industrial building features: 10 drive-in level doors, 8 cranes, 400 Amp and 600 Volt power, joist heights of up to 23’ 5” (majority of the building is 17’ 10”), office space, 2 fencedin yards, and plenty of parking. The property is zoned “M5 - General Industrial” which is ideal for manufacturing, industrial, production, services, warehouse, and many others. This convenient location is only 4-minutes from the QEW, 4-minutes to the Red Hill Valley Pkwy, 8- minutes to Burlington, and is roughly the midway point between the United States border and the city of Toronto.