Mixed Use Commercial & Residential Property In Thessalon! Assigned

  • $59,999
  • 2 beds
  • 2 baths
  • 1291 sqft

QUICK CLOSING!

Located 1 hour away from Sault Ste. Marie

Mixed Use Commercial & Residential Property In Thessalon!

 Fix & Flip, Redevelopment, or Rental Opportunity

$12K BELOW MPAC Value!

Frances Street, Thessalon
Frances Street, Thessalon, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: September 30th, 2025

*Realtors bring us a client and add your commission on top of the purchase price*

Strategies For Success

There are multiple ways an investor can capitalize on this property. Below, we highlight several strategies designed to maximize success in this opportunity:

  • Renovate & Rent – Restore the 2-bedroom apartment and update the commercial unit for steady dual rental income.
  • Repurpose Commercial Space – Convert the former gas bar/convenience store into a café, office, or boutique retail.
  • Owner-Operator – Live in the apartment while running or leasing out the commercial space to offset costs.
  • Redevelopment – Explore a teardown or expansion into a modern mixed-use or multifamily project.

Property Overview

Property Details:

  • Mixed Use: Commercial and residential property (Both currently vacant)
    • Commercial: Main entrance to spacious room and 1 bathroom
    • Residential: Apartment upstairs with 2 bedroom, 1 bathroom layout, has a kitchen and separate entrance.
  • Commercial:  1,291 sqft above grade & 471 sqft below grade
  • Residential:  829 sqft above grade
  • No Garage
  • Built in 1965
  • Unfinished basement has a separate entrance
    • 6 ft ceiling height max

Mechanical & Exterior

  • Electrical is likely fuse and aluminum as per seller
  • Furnace, A/C & HWT are all owned and around 25-30 years old
  • Appliances included: fridge in AS IS condition
  • Roof + windows are both very dated

Lot & Location

  • Property taxes are approx. $2,070
  • 65.87 ft x 134.79 ft lot (Corner Lot)
  • C2 Zoning

Important Notes

  • Budget for Junk Removal – seller has the option to leave junk behind
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent Fix & Flip or rental opportunity.

  • Wholesale Price: MAKE US AN OFFER
  • As per the MPAC report, the property is valued at $72,000.
  • Purchase today for $12K BELOW MPAC VALUE

Comparable Analysis
  • 62 Queen Street is currently listed on the MLS with an asking price of $209,900.  While 62 Queen is a two-storey, 1,894 sq. ft. single-family home with three bedrooms, one bathroom, and a detached garage, it requires updates with the potential to serve as a rental property similar to 27 Frances Street. The subject property, in contrast, provides a flexible mixed-use layout with a commercial unit and an upstairs two-bedroom apartment. Both properties require investment and vision to unlock their potential, but the subject property offers more immediate commercial possibilities, while 62 Queen Street offers a larger residential footprint and alternative conversion opportunities.
  • 47 Frances Street is located just down the street from the subject property and is currently listed for $499,900 on the MLS. Like the subject property, 47 Frances Street shows the potential of commercial properties in Thessalon. While 47 Frances is a fully equipped, turnkey restaurant, the gas-bar site offers a lower entry point with greater flexibility for redevelopment or repositioning. Both demonstrate how commercial space in this area can be leveraged into strong investment opportunities with the right strategy.
Price:
$59,999
Address:
Frances Street
Thessalon, ON
Square Feet:
1291
Lot Size:
65 x 135
Bedrooms:
2
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Commercial
Year Built:
1965
Basement:
unfinished

Call 647-930-0291 for more details

Property Location