62000 sqft
Acreage
$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. Don’t miss out on this top-notch industrial opportunity. (id:50976)
Property Details
|
MLS® Number
|
40676813 |
|
Property Type
|
Industrial |
Building
|
Basement Type
|
Partial |
|
Stories Total
|
1 |
|
Size Exterior
|
62000.0000 |
|
Size Interior
|
62000 Sqft |
Land
|
Acreage
|
Yes |
|
Sewer
|
Municipal Sewage System |
|
Size Depth
|
311 Ft |
|
Size Frontage
|
570 Ft |
|
Size Total Text
|
2 - 4.99 Acres |
|
Zoning Description
|
Mg, Hl |
https://www.realtor.ca/real-estate/27645054/80-second-avenue-w-simcoe
