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Friday, June 19th, 2026

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$579,999
Available - For Sale
Listing ID: X12629028
Offered at $579,999, this turn-key mixed-use triplex enjoys a prime downtown location in the vibrant heart of Smiths Falls (Walk Score 90), just one property from the corner and perfectly positioned for strong returns once fully leased. The property features a high-visibility 1,350 sq ft ground-floor retail space with contemporary finishes, large street-front display windows and excellent signage opportunities, projected to lease at $15 psf net ($1,675/month) on a true triple-net basis plus $8,614 in annual recoverable operating costs returned to the landlord, with hydro, gas and water separately metered or submetered to the tenant. The second floor offers two bright and spacious 2-bedroom, 1-bath apartments, each with its own private street-level entrance, brand-new flooring, contemporary LED lighting, fresh neutral paint, updated 3-piece bathrooms and brand-new in-suite washer and dryer; one unit includes brand-new kitchen appliances (oven, dishwasher and refrigerator), while the second offers clean, like-new appliances in excellent condition. Currently, the retail space and one residential unit are vacant and ready for tenancy, with the vacant apartment expected to command $1,830/month plus hydro and submetered water. There is no parking on site, but abundant free street parking is available directly out front. Pro-forma gross revenue (after a conservative 5% vacancy allowance) is projected at $65,952 annually, generating a Year-1 net operating income of $49,252 once stabilized and delivering a solid entry cap rate of 8.21% at the $579,999 list price. Located mere steps from cafés, restaurants, shops, the Rideau Canal and all downtown amenities, this low-maintenance, high-demand asset offers meaningful upside and long-term appreciation in one of Eastern Ontario's most charming and rapidly revitalizing towns.
Price $579,999
Minimum Rental Term: 60
Taxes: $6,133.41
Tax Type: Annual
Occupancy by: Partial
Address: 34 Market Street North , Smiths Falls, K7A 2E6, Lanark
Postal Code: K7A 2E6
Province/State: Lanark
Legal Description: PT LT 219 S/S RUSSELL ST PL 13884 LANARK
Directions/Cross Streets: Russell St E
No. of Pieces Level
Washroom 1:  0
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Washroom 47:  0
Washroom 48:  0
Washroom 49:  0
Washroom 50:  0
Category: Retail
Building Percentage: T
Total Area: 1,350
Total Area Code:  Square Feet
Retail Area Code: Sq Ft
Financial Statement: F
Chattels: F
 Management Expense: 3040
Maintenance: 0
Water Expense: $440
Vacancy Allowance: 5
Net Income Before Debt: $49253
Expenses Actual/Estimated: $Est
Sprinklers: No
Heat Type: Gas Forced Air Close
Central Air Conditioning: Yes
Sewers: Sanitary+Storm
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ROYAL LEPAGE INTEGRITY REALTY

34 Market Street North , Smiths Falls, K7A 2E6, Lanark

Evelina Branitsky
Sales Representative
Dir:
647.888.9606
Bus:
416.739.7200
Fax:
416.739.9367

 
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Type: Com - Commercial Retail
Area: Lanark
Municipality: Smiths Falls
Neighbourhood: 901 - Smiths Falls
Style:
Lot Size: x 32.10(Feet)
Approximate Age:
Tax: $6,133.41
Maintenance Fee: $0
Beds: 0
Baths: 1
Garage: 0
Fireplace: N
Air Conditioning:
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Evelina Branitsky Sales Representative pic ebranitsky@rogers.com Sutton Group- Admiral Realty Inc., Brokerage Independently owned and operated. pic 1881 Steeles Avenue West, Toronto, Ontario M3H5Y4 pic Dir: 647.888.9606 | Office: 416.739.7200 | Fax: 416.739.9367 Personal Pic

ebranitsky@rogers.com