Rare opportunity to acquire a freestanding 4,000 sq ft commercial building on a 50 x 190 ft lot (approx. 0.36 acres) along the high-exposure Atherley Road / Highway 12 corridor - one of Orillia's primary entry routes toward Lake Couchiching and downtown. The property is zoned C4i (mixed commercial/residential), offering a wide range of permitted uses including commercial operations, residential intensification, and potential multi-residential conversion subject to municipal approvals. The site features two grade-level access doors, rear yard access, approximately 3-metre ceiling height, and full municipal services including hydro, gas, and wastewater. Currently tenanted at $3,000/month + HST on a month-to-month basis, providing immediate holding income while an investor plans their next move. The building has operated as a commercial retail space for over 50 years, most recently as Orillia Carpet Discounters. A clean Phase I Environmental Site Assessment (June 2022) confirms no contamination, no fuel tanks, no hazardous materials, and no Phase II required - significantly reducing risk for investors and lenders. Ideal for redevelopment investors, small multifamily developers, owner-users, and mixed-use repositioning buyers.