Get $19,998 Cash Back
50 MILL STREET W, Centre Wellington (Elora/Salem) — listed at $7,999,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
In the heart of historic Elora, where cobblestone charm meets the gentle flow of the Grand River, stands a property that captures the very essence of this beloved village. Surrounded by artisan shops, cafés, and galleries, this stunning building is more than a place of business; it is a cornerstone of opportunity in one of Ontario's most picturesque and thriving communities. Set along the river's edge, the rear of the property opens to a raised deck and stone patio offering an extraordinary vantage point. Here, the sound of rushing water and views of the Grand create a setting that draws people in and keeps them lingering, an atmosphere ideal for a destination business or a peaceful retreat for those who call it home. The main level features a beautifully maintained commercial unit perfectly suited for a boutique, gallery, or café. With high visibility and steady foot traffic, it offers the ideal stage for an entrepreneur or investor looking to establish a lasting presence in downtown Elora. Above, two separately metered two-bedroom apartments provide additional versatility and income potential. These bright, inviting spaces are rich with character and offer views that celebrate the river and the surrounding heritage architecture. Owning a property that combines commercial and residential spaces opens a world of possibility. Operate your own business below while living steps away, or lease both levels for a steady multi-stream income. The configuration offers flexibility to evolve with your goals today, tomorrow, and years into the future. Few properties balance such beauty, functionality, and potential. With its riverfront setting, historic character, and prime location within Elora's lively core, this is an opportunity to invest in a building that embodies the soul of the village itself - creative, enduring, and full of promise. (id:60164)
How many fireplaces are there, and what type?+
This home has 3 fireplaces. Confirm the fuel type (wood, gas, or electric) and have it inspected — especially wood-burning, which needs a WETT certification for insurance.
Is 50 MILL STREET W a good fit for a growing family?+
With 6 bedrooms and 5 bathrooms, there's room for kids plus a guest room or home office. The 3-storey layout keeps living and sleeping areas separated.
How is the home heated? Is it efficient?+
Heating is baseboard heaters, electric. Electric heating can mean higher winter bills — ask for past utility statements.
What's the parking situation?+
This property includes No Garage, Street.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $5,701.55, heating is baseboard heaters, electric. Always verify the latest figures with your agent before making an offer — these change yearly.
Does it have a basement, and is it finished?+
Yes — Unfinished, N/A. A finished basement adds meaningful living space beyond the listed square footage.
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