$3,850,000 FOR SALE

Industrial

Lot: 570 x 311 ftTotal Area: 62,000 ft2
2024 Taxes: $27,370.75

80 Second Ave W
Norfolk, ON N3Y 2P3 | Simcoe

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.

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Listed By THE AGENCY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9255783
Last Updated Aug 15, 2024
Property Summary
Property Type Industrial

More like this:
Use Warehousing
Category Free Standing
PIN 501890045
Legal Description LT 2-6 BLK 7 PL 182; PT LT 1 BLK 7 PL 182; PT BLK 8 PL 182; PT UPPER MILL POND PL 182 PT 3, 4, 5 & 8 37R2080 S/T & T/W NR587819; NORFOLK COUNTY
Occupancy Tenant
Possession Date Immediate
Taxes (2024) $27,370.75
Tax Type Annual
Directions/Cross Streets SECOND/NORFOLK
Neighbourhood Simcoe
Area Norfolk
Price History
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Detailed Information
Freestanding Y
Lot 570 x 311 ft
Industrial Area 62,000 ft2
Total Area 62,000 ft2
Air Conditioning N
Basement Y
Garage Type None
Heat Type None
Sprinklers Y
Utilities Y
Water Municipal
Clear Height 18 feet
Drive-In Level Shipping Doors 2
Grade Level Shipping Doors 2
Truck Level Shipping Doors 3
Rail N
Lot/Bldg/Unit Code Building
Zoning MG, HL
Seller Property Info Statement N

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