440 Water Street E Cornwall, Ontario K6H 1A8

$899,000

An immaculate and highly versatile commercial property offering an exceptional range of possibilities! Featuring Res40 and SPU zoning (details in documents attached and AI-generated renderings of some in the photos as marked) and already generating $46,080 in gross annual residential income, this property offers an attractive combination of existing revenue and future business potential. Situated on just shy of an acre, the property enjoys excellent visibility at one of the busier intersections in the downtown core, just minutes from the waterfront, shopping, recreational facilities and other amenities. Previous uses have included a restaurant/bar and equipment rental business, but the possibilities are extensive. The zoning and layout could accommodate a variety of uses and development potential including a 7 story apartment building, professional offices, daycare, dance studio, place of worship, institutional use, retail, business hub and much more. The main-floor commercial space is a bright, open blank canvas featuring new flooring, a former bar area, coat check, rear washrooms and commercial kitchen space (appliances removed). The upper level features two exceptionally spacious, bright residential apartments, providing a solid income component. The basement offers several large, clean storage rooms and areas, previously used for equipment rental storage. Additional features include extensive on-site parking, separate entrances from both Marlborough and John Street, a fully fenced and secured property, and a rear storage shed. This property has been very well cared for with extensive updates over the years including a new roof membrane in 2025 ($63k investment) With four separate gas and hydro meters, this is an excellent opportunity for an investor, entrepreneur or business owner looking for a property with flexibility, visibility and multiple income possibilities. (id:65396)

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