Explore an outstanding investment opportunity with this expansive warehouse property, featuring a single national triple net tenant. Spanning approximately 62,000 square feet on around 3 acres, this versatile space is designated as Urban Residential in the Official Plan, positioning it as an excellent prospect for future development. The tenant currently occupies the entire building and has recently signed a new lease that includes strong annual escalations and favorable renewal terms, ensuring a reliable income stream. With a cap rate of just under 8% and annual escalations extending through 2028, this property promises an impressive return on investment. Conveniently located near the intersection of Queensway and Norfolk in downtown Simcoe, it offers easy access and ample on-site parking. Seize this exceptional industrial investment opportunity! (id:47423)
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Detailed Information
Lot
570 x 311 ft
Listing Contract Date
2025-01-08
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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