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:47423)
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Detailed Information
Lot
570 x 311 ft
Listing Contract Date
2024-08-15
Location Description
Norfolk St N to Second Ave W
Ownership Type
Freehold
Property Type
Industrial
Transaction Type
For sale
Zoning Description
MG, HL
Building
Basement Type
Partial
Stories Total
1
Size (Exterior)
62000
Land
Total Size
2 - 4.99 acres
Acreage
Yes
Sewer
Municipal sewage system
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