Ideally situated on Highway 7, this well-maintained multi-use building offers exceptional investment potential with a blend of commercial and residential income streams. The property features two commercial units and three residential apartments, with flexible configurations to maximize returns. Commercial Unit Main Floor: Street-facing unit, previously a barber shop - perfect for retail or service use. Lower Level: Former hair salon, adaptable for a range of commercial purposes. (Both commercial units are currently vacant, offering immediate opportunities for new tenants or owner operation.) Residential Units: Main Level Apartment (3 Bedrooms): Originally two separate units (a 1-bedroom and a 2-bedroom), this large apartment features an eat-in kitchen, family room, living room, three bedrooms, two 4-piece baths. It can easily be converted back into two self-contained apartments for increased rental income. Lower-Level Apartment (1 Bedroom): Comfortable unit with den, living room, and full kitchen. Third-Floor Apartment (2 Bedrooms): Bright and spacious, offering two bedrooms and a 4-piece bathroom. Additional Features: Tenancy: One unit is owner-occupied; two are rented to long-term, reliable tenants. Heating: Efficient natural gas furnace (replaced in 2013). Exterior: Metal roof and vinyl/aluminum siding for low-maintenance durability. Basement: Clean, dry space for storage or utilities. Investment Opportunity: This is a rare chance to acquire a solid, income-generating property with room for customization. Ideal for investors or owner-occupiers seeking additional revenue in a high-visibility location on Highway 7 in Norwood.
Address
4289 Highway 7
List Price
$639,000
MLS® Status
Sold Conditional
Expiration Date
2026-05-05
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
3-Storey
Transaction Type
Sale
Area
Asphodel-Norwood
Sub-Area
Norwood
Region
Peterborough
Bedrooms
5 + 1
Bedrooms (Total)
6
Rooms Above Grade
14
Rooms Below Grade
8
Bathrooms
5
Floor Area
2000-2500 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
237.23
Lot Shape
Pie
Lot Irregularities
Triangular
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
61.79
Parcel Number
282180117
Occupant Type
Owner+Tenant
Cross Street
Elm Street & Highway 7
MLS® Number
X12512288
Listing Brokerage
Bowes & Cocks Limited
Basement Area
Apartment, Finished with Walk-Out, Separate Entrance, Partially Finished
Postal Code
K0L 2V0
Posession Details
flexible
Parking
Private Double
Parking Places (Total)
5
Parking Spaces
5
Tax Amount
$2,427.31
Tax Year
2025
Site Influences
Golf, Library, Lighting, Place Of Worship, Porch, Rec./Commun.Centre, Recreational Area, School, School Bus Route
Accessibility Features
Bath Grab Bars, Multiple Entrances
Exterior Features
Lighting, Porch, Recreational Area
Interior Features
Accessory Apartment, Built-In Oven, Countertop Range, Separate Heating Controls, Water Heater Owned
Property Features
Golf, Library, Place Of Worship, Rec./Commun.Centre, School, School Bus Route
Central Vacuum
No
Family Room
Yes
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active Under Contract
Board Or Association
Central Lakes Association of REALTORS
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Aluminum Siding, Vinyl Siding
Direction Faces
South
Fireplace
No
Foundation Details
Block
Garage
No
Garage Type
None
Kitchens Total
3
Kitchens Above Grade
2
Kitchens Below Grade
1
Pool Features
None
Roof
Metal
Tax Legal Description
PT LT 8 S/S PETERBOROUGH ST PL 6 NORWOOD NE OF ELM ST AS IN R157094; S/T R277947; ASPHODEL NORWOOD
Security Features
Carbon Monoxide Detectors, Smoke Detector
Topography
Level, Terraced
View Type
Downtown, Skyline, Trees/Woods
Waterfront
No
Waterfront
None
Sewer
Sewer
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Rooms
| Floor | Type | Dimensions | Features |
|---|---|---|---|
| Lower | Office | 5.01 x 5.57 | B/I Vanity, South View |
| Lower | Utility Room | 8.21 x 4.49 | Irregular Room |
| Lower | Kitchen | 3.37 x 4.28 | |
| Lower | Living Room | 4.18 x 5.05 | |
| Lower | Primary Bedroom | 3.04 x 4.15 | |
| Lower | Study | 3.05 x 2.41 | |
| Lower | Utility Room | 3.05 x 2.38 | |
| Lower | Bathroom | 1.93 x 2.37 | 3 Pc Bath |
| Main | Kitchen | 5.01 x 4.32 | Eat-in Kitchen |
| Main | Primary Bedroom | 3.26 x 3.44 | |
| Main | Bathroom | 1.61 x 2.67 | 3 Pc Ensuite |
| Main | Office | 5.01 x 3.36 | |
| Main | Living Room | 4.97 x 4 | |
| Main | Bathroom | 2.13 x 2.47 | 3 Pc Bath |
| Main | Family Room | 3.2 x 3.9 | |
| Main | Bedroom 2 | 2.91 x 3.1 | |
| Main | Bedroom 3 | 2.91 x 3.26 | |
| Upper | Kitchen | 3.42 x 5.03 | Eat-in Kitchen |
| Upper | Living Room | 4.97 x 3.69 | |
| Upper | Primary Bedroom | 3.06 x 2.82 | |
| Upper | Bedroom 2 | 2.69 x 3.19 | |
| Upper | Bathroom | 2 x 1.6 |