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421 Main STREET S
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Foam Lake · Business · under $225,000. Alerts only send when there are new or meaningfully updated matching homes.
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This property offers a nice sized cafe with liquor license, main street access, seating for 20-30, prep kitchen, storage, 1/2 bath, and a coffee nook area with sandwich prep area, quartz bar top, and till area. The sale would be an asset sale but the location shows it can make a profit with good numbers for the one year the business has been in operation. Profits could be increased with previous owner only operating as a cafe without liquor sales for most of the year, only for daytime hours, and recently shown good revenues hosting private functions. The building has plenty of upgrades including flooring, shingles, furnace, AC and all the equipment. equipment and inventory alone is about $70,000. The lot has plenty of space if the new owner wanted to take advantage of a back patio as some patrons enjoyed a patio experience on the front sidewalk. The place is a unique opportunity to run a cafe on a smaller scale avoiding too much need for hired staff which can be hard to find/train. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
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Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 3, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.