80 Second Avenue Sold Invalid date

Norfolk, Simcoe, N3Y 2P3

$3,850,000$000000

Description

Listed by REALTY ADVISORS & CO LTD.

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

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  • Address: 80 Second Avenue
  • Neighborhood: Simcoe
  • City: Norfolk
  • State: Ontario
  • Postal Code: N3Y 2P3

Property Details

  • Property ID: X9255783
  • Property Price: $3,850,000
  • Style: Industrial, Free Standing
  • A/C: N
  • Basement: Y
  • Taxes: $27,370.75 (2024)
  • Lot: 311.00x570.00 (Feet)

Contact Manoj Kukreja

Sales Representative, Re/max Premier Inc., Brokerage
(647) 576 - 2100