Matthew Tenk
Broker of Record
80 Second Avenue W Norfolk (Simcoe), Ontario N3Y 2P3
$3,850,000
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. (id:39551)
Business
| Business Type | Industrial |
| Business Sub Type | Warehouse |
Property Details
| MLS® Number | X9255783 |
| Property Type | Industrial |
| Community Name | Simcoe |
Building
| Fireplace Present | No |
| Size Exterior | 62000 Sqft |
| Size Interior | 62000 Sqft |
| Type | Warehouse |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 311 Ft |
| Size Frontage | 570 Ft |
| Size Irregular | Bldg=570 X 311 Ft |
| Size Total Text | Bldg=570 X 311 Ft |
| Zoning Description | Mg, Hl |
https://www.realtor.ca/real-estate/27294968/80-second-avenue-w-norfolk-simcoe-simcoe
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Toronto Real Estate Board
The Agency
September 04 2024 04:47:35
