$ 3,850,000
80 Second AVE W Norfolk, ON N3Y 2P3
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,850,000
Est. payment /mo
New
80 Second AVE W Norfolk, ON N3Y 2P3
62,000 SqFt
UPDATED:
11/18/2024 04:06 PM
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 62,000 sqft
Price per Sqft $62
MLS Listing ID X10426534
Annual Tax Amount $27,370
Tax Year 2024
Property Description
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.
Location
Province ON
County Norfolk
Zoning MG, HL
Interior
Cooling No
Exterior
Utilities Available Yes
Others
Security Features Yes
Listed by Realty Advisors & Co.
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