32 CLEARVIEW DRIVE W
Tillsonburg, Ontario
MLS® X14085316
$2,350,000
- Status
- Active
- Property type
- Industrial
- MLS® number
- X14085316
- Bedrooms
- —
- Bathrooms
- 1
- Year built
- —
Listing description
Excellent opportunity to own approximately 11,000 sq. ft. of industrial property with 5+ years of operation.
Zoning allows for cannabis cultivation. 400 amps, 600 volts (3-Phase) electrical service. Building Size: Approximately 11,000 sq.
ft. Year Built: 2021Zoning: MG - IndustrialLand Size: 0. 71 acresLocation: Industrial/commercial area just off Highway 3Electrical Service: 400 Amps, 600 Volts, 3-PhaseWater Supply: Municipal water with a 1-inch service lineSewer: Connected to municipal sewer systemNatural Gas: Large natural gas service lineBuilding DimensionsMain building: 60 ft.
156 ft. Additional attached section: 35 ft. 26 ft.
14 ft. Major Renovations and Improvements: The property has undergone approximately $500,000 in renovations and improvements. At the time of purchase, the three HVAC units, each rated at 25 tons, had been removed.
The seller subsequently reinstalled all three units, providing a total HVAC capacity of 75 tons. Existing Tenant and Investment PotentialMonthly Rental Income: $13,550Annual Rental Income: $162,600Remaining Lease Term: Approximately 2 yearsAsking Price: $2,350,000Approximate Gross Rental Yield: 6. 92% annuallyBased on the current rental income, the property offers an approximately 7% gross annual rental yield before expenses.
Vendor Take-Back (VTB) Financing: The seller is willing to provide 50% vendor take-back financing in first position, subject to mutually acceptable terms and due diligence. This financing opportunity may allow a qualified purchaser to acquire the property with reduced upfront capital requirements. A compelling opportunity for investors and owner-users seeking a modern industrial property with existing rental income, substantial improvements, and potential vendor financing.
Property summary
- MLS® number
- X14085316
- Property type
- Industrial
- Size
- 11,000 sq ft
- Land size
- 11000 acres
- Annual property taxes
- $31,967.00
- Parking
- 21 spaces
- Days on market
- 27 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
What would this home cost you?
Based on the $2,350,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of CENTURY 21 MILLER REAL ESTATE LTD., MISSISSAUGA.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.