Situated prominently on 25 Avenue in Vernon, this 15,074 square foot concrete block light industrial building commands attention on a .66 acre high exposure level lot. Its strategic location offers prime visibility and accessibility. The building's frontage on 25 Avenue is versatile, with the potential to be divided into four separate units thanks to existing door placements, catering to a range of tenants' needs. Meanwhile, the rear portion, accessible from 24 Avenue, features a paved and fenced yard area, facilitating smooth operations. The property boasts newer roof and mechanical systems, indicative of its well-maintained status and potential for reduced maintenance costs. 3 of the 6 overhead doors are newer, 2 have electric openers. LED lighting. Currently, two of the three existing leases are notably below market rates, presenting an opportunity for increased returns upon renewal in 2025 and 2027. This favorable leasing situation positions the property for a significant uptick in profitability, aligning with market trends and maximizing its investment potential. (id:47423)
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Detailed Information
Total Area
15,074 ft2
Listing Contract Date
2024-02-12
Municipal ID
003-562-379
Ownership Type
Freehold
# of Parking Spaces
15
Property Type
Industrial
Transaction Type
For sale
Zoning
Unknown
Building
Constructed Date
1975
Cooling Type
Central air conditioning
Heating Type
See remarks
Type
Other
Land
Total Size
0.66 acres
Access Type
Easy access
Current Use
Industrial
Size of Irregular Land
0.66
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