62000 sqft
$3,850,000
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. Dont miss out on this top-notch industrial opportunity. (id:49269)
Business
BusinessType
|
Industrial |
BusinessSubType
|
Warehouse |
Property Details
MLS® Number
|
X9255783 |
Property Type
|
Industrial |
Community Name
|
Simcoe |
Building
SizeExterior
|
62000 Sqft |
SizeInterior
|
62000 Sqft |
Type
|
Warehouse |
UtilityWater
|
Municipal Water |
Land
Acreage
|
No |
SizeDepth
|
311 Ft |
SizeFrontage
|
570 Ft |
SizeIrregular
|
Bldg=570 X 311 Ft |
SizeTotalText
|
Bldg=570 X 311 Ft |
ZoningDescription
|
Mg, Hl |
https://www.realtor.ca/real-estate/27294968/80-second-avenue-w-norfolk-simcoe-simcoe