50 Mill Street W, Centre Wellington, ON N0B 1S0
$7,999,000
$7,999,000
MLS®#:
X12472565
Property Type:
Store W Apt/Office
Property Style:
Area:
Wellington
Community:
Elora/Salem
Taxes:
$5,701.55 / 2025
Added:
October 20 2025
Lot Frontage:
44.7
Lot Depth:
70.54
Status:
Active
Outside:
Year Built:
Brokerage:
ROYAL LEPAGE RCR REALTY
Lot :

70

44

Intersection:
Metcalfe/Mill
Rooms:
Bedrooms:
Bathrooms:
Fireplace:
Utilities
Water:
Municipal
Cooling:
Partial
Heating Type:
Other
Heating Fuel:

Listing Details

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.

2 fridges, 2 stoves, 2 dishwashers, 2 clothes washers and dryers, 3 microwaves, 3 hot water heaters, 3 gas fireplaces, 1 water softener, 6 portable air conditioning units, 3 alarm systems

Insights

  1. Prime Location: Situated in the heart of historic Elora, this property benefits from high visibility and steady foot traffic, making it an ideal spot for a boutique, gallery, or café.
  2. Diverse Income Potential: The property features a commercial unit on the main level and two separately metered two-bedroom apartments above, providing multiple streams of income for investors.
  3. Scenic Riverfront Setting: With a raised deck and stone patio overlooking the Grand River, the property offers a unique atmosphere that enhances its appeal as a destination business or tranquil residence.

Neighborhood Overview

Complete neighborhood profile for 50 Mill Street W

Elora/Salem home prices

Average sold price for Detached, Semi-Detached, Condo, Townhomes in Elora/Salem
* Data is provided courtesy of TRREB (Toronto Regional Real-estate Board)