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.
Address
50 Mill Street W
List Price
$10,000,000
MLS® Status
New
Expiration Date
2026-09-15
Property Type
Commercial
Type of Dwelling
Store W Apt/Office
Transaction Type
Sale
Area
Centre Wellington
Sub-Area
Elora/Salem
Region
Wellington
Lot Size Source
GeoWarehouse
Lot Depth
70.54
Lot Type
Lot
Lot Size Units
Feet
Lot Width
44.7
Parcel Number
714100091
Total Building Area
4990
Occupant Type
Owner+Tenant
Cross Street
Metcalfe/Mill
MLS® Number
X12472565
Listing Brokerage
ROYAL LEPAGE RCR REALTY
Basement
Yes
Postal Code
N0B 1S0
Posession Details
TBD
Tax Amount
$5,701.55
Tax Year
2025
Site Influences
Greenbelt/Conservation
Community Features
Greenbelt/Conservation
Standard Status
Active
Board Or Association
Toronto Regional Real Estate Board
Heat Type
Other
Cooling Features
Partial
Garage Type
None
Tax Legal Description
PT LT 1 S/S W MILL ST PL 181 ELORA AS IN RO800725; S/T RO800725; CENTRE WELLINGTON
Security Features
No