ON > Windsor
Windsor, ON N8Y 2L6,511 Devonshire RD
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Windsor, ON N8Y 2L6,511 Devonshire RD
Windsor, ON N8Y 2L6,511 Devonshire RD
Windsor, ON N8Y 2L6,511 Devonshire RD
Windsor, ON N8Y 2L6,511 Devonshire RD
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Jamie Black

Jamie Black

+1(416) 347-9383
$ 1,750,000
Est. payment /mo
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Active

511 Devonshire RD Windsor, ON N8Y 2L6

4,600 SqFt

UPDATED:

01/14/2025 06:20 PM

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 4,600 sqft

Price per Sqft $380

MLS Listing ID X11922880

Annual Tax Amount $16,500

Tax Year 2024

Property Sub-Type Investment

Property Description

Looking for an incredible investment opportunity that offers an over 11% direct cap rate, over 20% Return on Equity and contributes to the overall housing crisis in Ontario--look no further, this is the one. As an owner operator, in partnership with the City of Windsor, you will provide supportive housing services to individuals who are at risk of being homeless. This recession proof business/operation provides subsidized financial support via a license with the City of Windsor as well as private supportive housing services to individual tenants. Licensed for 32 beds (17 subsidized with the City of Windsor plus 15 private beds) this facility/operation has an over 95% occupancy rate and strong financials. With approximately 4656 sq ft of well-maintained interior and exterior features this property boasts the following: 11925 sq ft lot (119x110), newer windows (main and 2nd floor), updated roof (5 yrs), sprinkler system, 6 washrooms, forced air heating and cooling, 200 amp service panel and 10 bedrooms (shared). Conveniently located in Windsor's historic Walkerville neighborhood, this property offers seamless access to public transit right at your doorstep and is well-connected to major roads.The City of Windsor designates the property part of the Commercial District area that permits both residential and neighbourhood commercial uses. The zoning By-law classifies 511 Devonshire Road as CD1.3

Location

Province ON

County Essex

Area Essex

Zoning CD 1.3

Interior

Cooling No

Exterior

Community Features Major Highway, Public Transit

Utilities Available Yes

Lot Frontage 119.73

Lot Depth 100.33

Listed by ROYAL LEPAGE REAL ESTATE SERVICES LTD.
agent

Jamie Black

Sales Representative

+1(416) 347-9383

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511 Devonshire RD

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