1 bath21 parking11,000 ft²11,000 sq ft (0.25 ac) lot sizeListed 19 days ago
Overview
This industrial property in Tillsonburg is for sale offering roughly 11,000 sq ft of space. It has been on the market 19 days, fresher than the Tillsonburg average of 77 days.
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. (id:66096)
Property Details
MLS®
X14085316
Property Type
Industrial
Business Type
Manufacturing
Zoning
N/A
Bathrooms
1
Parking
21
Interior Size
11,000 ft²
Lot Size
11,000 sq ft (0.25 ac)
Frontage
75 ft
Heating
Forced air, Natural gas
Cooling
Fully air conditioned
Property Tax
$31,967/yr
Listed
19 days ago
Services
Water
Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Days on market
19d
Tillsonburg listings, avg age
77d
Price / ft²
$214
List price
$2.35M
Active: 19 days on market, against an average age of 77 days across the listings currently for sale in this city
Market timing · days on market0 → 77d avg age of current listings
Active · day 19
Homes here sell slower than most markets
Sold homes in this market spent an average of 60 days on the market over the past year, against a median of 48 days across the markets we publish.
Haho
This industrial in Tillsonburg has been listed for 19 days, which is 58 days fresher than the city average of 77. Act while there is still low competition.
Listed by CENTURY 21 MILLER REAL ESTATE LTD. · JACK WONG
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Area context
Neighbourhood profile (N4G)
This home lists at $2,350,000, about 31.3× the local median household income of $75,000.
Carrying it typically needs a household income of about $459,037 (20% down, 25-yr amortization, stress-tested) — roughly 512% above the area median.
Median household income
$75,000
Population
21,519
Median age
47.6
Owner / renter
72% / 28%
Avg. household size
2.3
Source: Statistics Canada, 2021 Census (FSA N4G)
$2,350,000· $214/ft²
For sale
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Financing
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