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$3,850,000
Status: For Sale
Discover an exceptional investment opportunity featuring a single, national, triple net tenant with this expansive warehouse property. With approximately 62,000 square feet of versatile space situated on approximately 3 acres, this property is designated under the Official Plan as Urban Residential, making it an ideal candidate for future development. The tenant currently occupies the entire building and has recently signed a new lease with robust annual escalations and favorable renewal provisions, ensuring a stable income stream. The property offers a remarkable return on investment with a cap rate just under 8% and annual escalation's through 2028. Ideally situated in a prime locale near the intersection of Queensway and Norfolk in downtown Simcoe, this property provides convenient access and ample on-site parking. Don’t miss out on this top-notch industrial opportunity.
| Property Type | :Commercial Sale |
|---|---|
| MLS Number | :40676813 |
| Listing Type | :Sale |
| Property Age | :51-99 Years |
| Possession Date | : |
| Last Updated | :14 Nov, 2024 (43 Days ago) |
| Source | :Brantford |
| Area | :Norfolk |
|---|---|
| City | :Simcoe |
| Area Major | :Town of Simcoe |
| Area Minor | :Town of Simcoe |
| Postal Code | :
N3Y 2P3
|
| Directions | :Norfolk St N to Second Ave W |
| Price | : $3,850,000 |
|---|---|
| Property Taxes | :$27370.75 |
| Tax Year | :2024 |
|---|
| Place of Worship | :No |
|---|---|
| Cross Street | :Second/Norfolk |
| Approx Square Footage | :62000 sqft |
|---|
13 Nov, 2024
TREB #40676813
Listed
$3850000
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