Address
26 Salmon Side Road, Rideau Lakes, ON
Price
$ 3,150,000
Property Attributes
- ID#X13070044
- TypeBusiness Op
- Listing Status Active
- MunicipalityRideau Lakes
- CityRideau Lakes
- Area820 - Rideau Lakes (South Elmsley) Twp
- Neighbourhood820 - Rideau Lakes (South Elmsley) Twp
- Postal CodeK7A 4S5
- Style
- Price$ 3,150,000
- Bedrooms0
- Bathrooms0
- Half Bathrooms0
- Sqr Footage49
- Lot Size49.4 Acres
Data Source:
Canadian Real Estate Association (CREA)
Property Description
Acquire a fully occupied 47-pad freehold land-lease mobile home community generating stable in-place income at a 4.5% cap rate, with approximately 49.46 acres of land and identified expansion potential for an estimated 70-130 additional sites, subject to approvals and servicing. 26 Salmon Side Road presents a rare opportunity to acquire an established community combining immediate cash flow with substantial long-term growth potential. The property consists of 47 occupied land-lease sites, a manager's residence, and approximately 35 acres of excess land beyond the existing developed portion of the community. Preliminary review has identified approximately 21 acres of practical expansion area capable of supporting an estimated 70-130 additional sites, with approximately 70 sites representing the low-end practical scenario. Based on current operating performance and estimated expansion costs, investors may have a pathway toward a stabilized yield on cost in the range of approximately 7.5%-8.5%+ following future expansion. Opportunities to acquire stabilized mobile home communities with meaningful excess land are increasingly scarce throughout Ontario, making this a compelling opportunity for operators, investors, and affordable housing groups seeking both current income and future value creation. ADDITIONAL DETAILS FOUND IN "MORE INFORMATION" LINK BELOW. (id:7434)
General Features
| Property Type | Business |
|---|---|
| FarmType | Other |
| Zoning Description | RMH & RU5 |
| CommunityName | 820 - Rideau Lakes (South Elmsley) Twp |
| Building Cooling Type | None |
| Location Description | Cross Streets: Golf Club Rd. ** Directions: Head toward Hunters Rd. Turn right onto Hunters Rd. Turn right onto Salmon Side Rd. Turn left onto Twin Oaks Rd. Turn left onto Hyland Dr. Destination will be on the left. |
Interior Features
| Building Fireplace Present | False |
|---|---|
| Building Heating Type | Other |
| Living Area Range | 49 |
Amenities
- Views
- 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 Business Op Average in K7A 4S5
Price
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating