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$10,499,000
Est. payment /mo
93,981 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 93,981 sqft
Price per Sqft $111
Subdivision Se
MLS® Listing ID X12133154
Originating Board Toronto Regional Real Estate Board
Property Description
Rare fully occupied investment opportunity offering approximately 7% cap rate currently with upside as high as 9% within four years due to escalations and lease renewals. High-quality roster of tenants who plan to stay long-term. Flexible zoning allows outside storage and property sits on 12.2 total acres with approximately 4 acres of unutilized excess land for future development potential to add additional units or for outside storage usage. Extensively upgraded building with new LED lighting, new exterior and interior metal cladding, new electrical wiring, and other work too extensive to list - $2.2 million spent on upgrades over last 8 years. Great building specs with 20 ft clear height in 80% of the building and 16 ft clear height in 20% of the building, and abundant dock-level and drive-in shipping doors. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Radiant heat
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
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Listed by LENNARD COMMERCIAL REALTY