Real Estate

Listing of the week: $649K for this Manitoulin Island property with investment potential

67 Main Street, Kagawong, Ont.

Lake: Five-minute walk to Lake Huron, Lake Kagawong, and Bridal Veil Falls

Bedrooms: 2

Bathrooms: 3 (one in upstairs apartment and one in each commercial unit)

Lot size: 0.48 acres with 3,300 sq. ft. building

Asking price: $649,000

Taxes: $1,882

Date listed: April 2024

Listing agent: Alan Mihelchic, J.A. Rolston Ltd. | 705-282-4602

About the property

This is an exceptional property located at the main intersection of “Ontario’s Prettiest Village,” Kagawong, Ont. The property is a corner lot located within walking distance to the famous Bridal Veil Falls, gorgeous sand beaches, restaurants, a marina, numerous hiking trails, and outstanding fishing! The building sits on just under half an acre of land and is made up of two ground-floor commercial units and a high-end residential dwelling above the commercial space with stunning finishes. The residential unit has been fully renovated and has two bedrooms, one large bathroom with laundry facilities, a large entrance with built-ins, and a large open-concept living space with a modern kitchen, plus dining and living areas. Hardwood floors, ceramic tiles, granite countertops, stylish wall coverings, plumbing and light fixtures throughout. Fall asleep to the soothing sound of the falls a short distance away.

There are two thriving commercial units on the ground floor. The smaller of the two is currently tenant-occupied and operating as an ice cream parlour/lunch cafe. It has its own entrance, a two-piece bathroom and a full kitchen. The other commercial space is also tenant-occupied and is operating as a candy store. It has its own storage room, office, two-piece bathroom and an entrance off Main Street.

What makes this property unique?

  • This property is located in one of Ontario’s “prettiest” villages, Kagawong, Ont.

  • It sits on the corner of one of Manitoulin Island’s busiest intersections and gets tons of traffic and exposure.

  • It is a five-minute walk to popular tourist destinations such as Bridal Veil Falls, Kagawong Beach and the marina.

What are the main selling features?

An outstanding business opportunity for someone to operate their own business and live right above it in an absolutely charming little town that has a bustling tourism economy.

Have there been any recent upgrades on the property?

The upstairs apartment is very spacious and completely renovated with modern finishes such as hardwood floors, granite countertops, ceramic tiles, a stunning custom shower, and gorgeous built-ins.

Would you like to list your cottage on our website? Email listingoftheweek@cottagelife.com.

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