685 River Park Rd

Timmins, P4P1B3
UNAVAILABLE
685 River Park Rd, Timmins
Retail
CATEGORY
11,325 Sq Ft
TOTAL AREA
X4164653
MLSID
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Property Description
Incredible Opportunity To Own A Freestanding Building Zoned Commercial With Ample Parking. Earlier It Was Occupied By Mac's Stores. Potential To Lease This Unit For $16/Sf And Averaging Over 6.5 Cap. Excellent Prime Location Proximity To Various Wants. Option To Own This Property With Other Two Properties Address Are 60 Dwyer Ave And 20 Victoria Avenue. The Other Two Properties Are Fully Leased Cap At Approx 6.5%. This Location Is Ideal For Various Usages.
Extras
Property Is Located In High Density Residential Area. Don't Miss This Opportunity!!!
Property Details
Category
Retail
Zoning
Commercial
Total Area
11,325 Sq Ft
Retail Area
2,428 Sq Ft
Taxes
$10,916 (2017)
Air Conditioning
Yes
Listing contracted with Homelife Maple Leaf Realty Ltd., Brokerage
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This property is an excellent opportunity for investors, with a fully leased, well-maintained location occupied by a AAA tenant. The double net rent of $31,000 per year, along with a long-term lease agreement that runs until April 30th, 2027, with the option to extend for the next 30 years, make it an attractive option. The property's 6% CAP rate offers an impressive return, and it is strategically located in a high-density area. As part of the lease agreement, the tenant is required to cover property taxes and maintenance fees, and there is an escalation in base rent. The roof was replaced in 2014, and the structure dates back to the 1970s, The seller is highly motivated to sell and is eager to show its gem, so don't miss out on this opportunity!
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