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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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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