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Merrickville · K0G 1N0
$2,199,998
MLS® #X13458216
About this property
115 Grenville Way presents a rare opportunity to acquire a purpose-built commercial investment property offering dependable cash flow, strong tenant stability, and immediate upside through future expansion.The property consists of approximately 12,000 square feet of custom-built commercial space situated on a generously sized lot with ample parking and excellent accessibility. The building is comprised of a 9,000-square-foot warehouse and a 3,000-square-foot fitness facility, creating a diversified income stream supported by established long-term tenants.The warehouse component is fully leased to a long-term tenant, providing reliable occupancy and stable rental income. Complementing the industrial space is the town's only fitness center, a well-established and highly active business that has become an essential service within the Merrickville community. The gym enjoys strong membership levels, consistent traffic, and limited competition, positioning it for continued success. Current rental revenue totals approximately $8,500 per month, providing immediate income from closing. Investors will appreciate the property's built-in value-add component, as the owner is willing to construct additional square footage for the fitness facility. The tenant has indicated a willingness to lease the expanded space and pay additional rent, creating a clear pathway to increased revenue and enhanced property value. Investment Highlights 9,000 sq. ft. warehouse leased to a long-term tenant 3,000 sq. ft. fitness facility occupied by Merrickvilles only gym Current rental income of approximately $102,000 annually Opportunity to increase revenue through planned gym expansion Strong tenant retention and established occupancy history Custom-built facility with modern functionality and durable construction Ample parking and efficient site layout Excellent access from a major roadway. Tenants pay all expenses except Building Insurance.
General information
Building and mechanicals
Parking and garage
Lot and land
Taxes
Mortgage estimate
Estimated monthly payment
$9,290
Down payment: $440,000 · Loan: $1,759,998
Estimate only. Lender rates and qualification rules change constantly. Excludes property tax, condo fees, and insurance. Always confirm with a mortgage broker before making decisions.
Listing record
Listing courtesy of: RE/MAX HALLMARK REALTY GROUP. Originating board: the A00001796.
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The information provided is for personal, non-commercial use and may not be used for any purpose other than identifying prospective properties consumers may be interested in purchasing. Last updated: Jul 30, 2026.
Measurements, dimensions, and other property details are provided by the listing brokerage and have not been independently verified. Information is deemed reliable but is not guaranteed and should be confirmed by the buyer and their representative.