21
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$3,850,000
Est. payment /mo
62,000 SqFt
Active
80 Second AVE W Norfolk, ON N3Y 2P3
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Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 62,000 sqft
Price per Sqft $62
Subdivision Simcoe
MLS Listing ID X11913701
Annual Tax Amount $27,370
Tax Year 2024
Property Sub-Type Industrial
Lot Depth 311.0
Lot Front 570.0
Property Description
Explore an outstanding investment opportunity with this expansive warehouse property, featuring a single national triple net tenant. Spanning approximately 62,000 square feet on around 3 acres, this versatile space is designated as Urban Residential in the Official Plan, positioning it as an excellent prospect for future development. The tenant currently occupies the entire building and has recently signed a new lease that includes strong annual escalations and favorable renewal terms, ensuring a reliable income stream. With a cap rate of just under 8% and annual escalations extending through 2028, this property promises an impressive return on investment. Conveniently located near the intersection of Queensway and Norfolk in downtown Simcoe, it offers easy access and ample on-site parking. Seize this exceptional industrial investment opportunity!
Location
Province ON
County Norfolk
Community Simcoe
Area Norfolk
Zoning MG, HL
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 570.0
Lot Depth 311.0
Others
Security Features Yes
Listed by Realty Advisors & Co.
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