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.
Mls | 40676813 |
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Listing Type | For Sale |
Subtype | Resale |
Status | Active |
Days On Site | 31 |
Listing Provided By | Realty Advisors & Co., Brokerage | Richard Rudlin |
Sq Feet | 62,000 |
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Basement | Y |
Storys | 1 |
Zoning | MG, HL |
State | ON |
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County | Norfolk |
City | Simcoe |
Zip Code | N3Y 2P3 |
Area | Town of Simcoe |
Subarea | Town of Simcoe |
Community Name | Town of Simcoe |
Listing VS Median (in Town of Simcoe) | |
Price: $3,850,000 low | high Med: $609,900 SqFt: 62,000 low | high Med: 1,322 $ / SqFt: $62 low | high Med: $461 On Site: 31 low | high Med: 67.000000 |