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For saleMLS® X12472597

50 Mill Street W, Centre Wellington, ON N0B 1S0

Elora/Salem · N0B 1S0

$7,999,000

$2,285 / sq ft

12 months on market

Bedrooms
6
Bathrooms
5
Total area
3,500 sf
Lot
44.7 × 70.54 ft

What's special

  • Window unit(s)
  • Finished basement
  • 3 fireplaces
  • Water softener
  • Water heater owned

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About this property

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.

Rooms

18 rooms. Dimensions as published by the listing brokerage.

Room dimensions and features
RoomLevelDimensionsFeatures
OtherMain4.67 × 4.60 m15.3 × 15.1 ft—
OtherMain10.43 × 4.03 m34.2 × 13.2 ft—
OtherMain3.91 × 5.20 m12.8 × 17.1 ft—
OtherMain2.98 × 5.34 m9.8 × 17.5 ft—
BedroomThird3.97 × 3.06 m13.0 × 10.0 ft—
BedroomThird3.96 × 3.38 m13.0 × 11.1 ft—
BathroomThird2.10 × 1.69 m6.9 × 5.5 ft—
BedroomThird3.52 × 3.17 m11.6 × 10.4 ft—
BedroomThird3.50 × 4.02 m11.5 × 13.2 ft—
BathroomThird0.91 × 3.23 m3.0 × 10.6 ft—
BedroomUpper3.62 × 4.10 m11.9 × 13.5 ft—
BedroomUpper4.11 × 4.18 m13.5 × 13.7 ft—
BathroomUpper3.08 × 2.33 m10.1 × 7.6 ft—
KitchenUpper2.52 × 3.65 m8.3 × 12.0 ft—
Dining RoomUpper2.20 × 2.73 m7.2 × 9.0 ft—
Living RoomUpper3.84 × 3.92 m12.6 × 12.9 ft—
KitchenUpper4.45 × 3.35 m14.6 × 11.0 ft—
Living RoomUpper4.42 × 4.65 m14.5 × 15.2 ft—

Features

  • Water Softener
  • Water Heater Owned

Property details

Property

Property type
retail
Bedrooms
6
Bathrooms
5
Interior size
3,500 sq ft
Lot size
44.7 × 70.54 ft
Possession
TBD

Interior

Basement
Unfinished
Heating
Baseboard · Electric
Cooling
Window Unit(s)
Fireplaces
3
Exposure
South

Exterior & services

Construction
Stone

Costs

List price
$7,999,000
Property taxes
$5,702 / year (2025)
Price per sq ft
$2,285

Listing

MLS® number
X12472597
Status
For sale
Listed
October 20, 2025
Days on market
380
Last updated
June 24, 2026
Listing brokerage
ROYAL LEPAGE RCR REALTY

Price & sale history

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Before you make an offer

What this home costs beyond the asking price, and how that price compares to what else is on the market.

Mortgage estimate

Down payment20.0% · minimum $1,599,800
$1,599,800
Interest rate5-year fixed, illustrative only
4.49%
Amortization
Principal & interest
$35,382.28
Property tax (est.)
$475.13
Estimated monthly
$35,857

Estimate only. Excludes CMHC insurance premiums, which apply below 20% down, and does not constitute a mortgage approval or an offer of credit.

Land transfer tax

Payable on closing, on top of the purchase price.

Ontario
$186,450
Total due on closing
$186,450

An estimate on the asking price of $7,999,000. Rates current as of September 2026; confirm the final figure with your real estate lawyer.

Listing courtesy of ROYAL LEPAGE RCR REALTY. Listing data is provided in part by the Toronto Regional Real Estate Board (TRREB) and is deemed reliable but is not guaranteed accurate. Information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. Data is updated every 15 minutes.

$7,999,000

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