Who’s looking for a profitable property?
Here’s your chance to own a fully renovated, turn-key mixed-use building in the heart of Peterborough’s main shopping district for only $499,000 Or Best Offer, with an ARV around $750,000. That’s more than $250K in built-in upside on a property where over $200K in upgrades have already been completed.
This opportunity is perfect for entrepreneurs, investors, and landlords who recognize the long-term value of a flexible, mixed-use property in a thriving downtown corridor. One of the commercial units currently houses a successful local business with consistent daily foot traffic, showing the viability of the location for future tenants. The second ground-floor unit has been fully renovated and modernized to function as a residential suite, though it’s not currently permitted for residential use. The upper unit remains a legal residential apartment, clean and move-in ready.
You can retain the upgraded layout and pursue a residential designation from the municipality, or lease it as an office or studio space as-is. Located in a high-visibility zone within Peterborough’s shopping core, this property is surrounded by complementary retail, professional services, and local amenities that make it attractive to both commercial and residential tenants.
Located just off Lansdowne St E & Lock St, this address offers easy access to transit, restaurants, and major arterial roads. There is no on-site parking, but street parking is available nearby (buyer to verify with the city). The property features newer windows, updated roof sections, and three separate furnaces, ensuring low-maintenance ownership for years to come.
Why this is a great investment:
• Prime downtown location with proven foot traffic and strong tenant potential.
• Fully renovated; no major capital expenses required.
• Over $200K in recent upgrades including mechanicals, finishes, and layout.
• Ideal for owner-operators, professionals, or long-term investors seeking a quality downtown asset.
• Flexible setup allows commercial, residential, or live-work possibilities (verify with city).
How can you profit?
1) Entrepreneur/Owner-Operator: Open your own business or office in one of the ground-floor spaces while retaining the others for supplemental rental potential.
2) Mixed-Use Investment: Maintain a balance of commercial and residential tenants for long-term appreciation and stable occupancy in a prime area.
3) Residential Conversion Play: Apply for full residential designation for the updated main-floor suite to further enhance property value and versatility.
SUMMARY:
– LOCATION: Peterborough, ON (Lansdowne St E & Lock St)
– PURCHASE PRICE: $499,000 Or Best Offer
– AFTER REPAIR VALUE: $750,000
– CLOSING: December 16, 2025 (This is an assignment sale.)
– TYPE: Detached mixed-use triplex (2 commercial / 1 residential)
– BEDS/BATHS: 4 beds / 2 full baths + 1 half bath
– PARKING: None
– BASEMENT: Unfinished, appears dry but not full height
– LOT: 32.06’ × 116.81’
– PROPERTY TAX: Approx. $7,013.36 per year
– POSSESSION: Vacant (current business will vacate prior to closing)
RENOVATIONS NEEDED:
• This property is largely turnkey, the sellers completed extensive updates throughout. The only minor item noted is that one ground-floor unit is missing a proper kitchen counter; a temporary counter is currently placed on the cabinets.
• Some junk and furniture removal.
• Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
• Over $200K in renovations completed; everything from mechanicals to finishes
• Fully vacant, ready for your business, tenants, or new use
• Updated windows, roof, and furnaces (3 separate units)
• High-traffic, high-visibility location in Peterborough’s downtown shopping corridor
• Demonstrated business viability in a strong area for boutique retail or office use
• Potential to re-apply for residential designation for added long-term upside
This is a turnkey downtown opportunity that gives you flexibility, quality, and built-in value, perfect for those ready to own a standout property in one of Ontario’s most active mid-sized markets.
LISTING ID: 1125-PET-F01
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang, Josea Dussard & Sarah Budden
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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