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Norfolk,ON N3Y 2P3
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
Community Simcoe
Area Norfolk
Zoning MG, HL
Region Simcoe
City Region Simcoe
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 570.0
Lot Depth 311.0
Others
Security Features Yes