6 UNIT COMMERCIAL WITH A+ FLAGSHIP TENANT, 9.7% TRUE CAPITALISATION RATE (Real Estate - Houses, Properties for Sale)

Ad ID 68333 in Category: Real Estate - Houses, Properties for Sale

6 UNIT COMMERCIAL WITH A+ FLAGSHIP TENANT, 9.7% TRUE CAPITALISATION RATE
Real Estate Type: commercial building Location: 545 Ouellette Avenue, Windsor, ON General Description This property is located in downtown Windsor on our equivalent to Toronto's Yonge Street. The flagship tenant is the Desjardins Credit Union, one of Canada's largest financial institutions. They are currently 2 years into a 10 year lease (which was a renewal FYI), with their rent set to increase in 2011. Upstairs, 4 more smaller businesses lease out space, all well established commercial tenants, all of which on lease and long term. Another 1000 square feet (approximate) available for lease. What has to be appreciated here is three fold: 1) This is an "invest and relax" investment. The safety of investment is as high as you can be; all long term tenants, and with a 6th unit to rent (to which we have applied zero value in our cash flow analysis). 2) There is no intensive management associated with this property. The ease of investment must also be considered. 3) The Vendors are selling based on the reality of property value. If you change nothing, and leave the building running as-is, you have a 9.7% capitalisation rate now, and 10.7% as of 2011. Based on actual figures, including the current vacancy. It doesn't take a rocket scientist to grasp that by renting out the 6th unit, you only increase these already desirable numbers. The building is in excellent condition, including a $50,000 new roof in 2007 Price: $740,000 Cap rate 9.7% No. of Unit: 6 Size: 6000 SF
Related Link: Click Here (0 hit) Target Prov.: Ontario Target  City: Windsor Last  Update: Aug 18, 2008 06:57:27 AM EDT	Ad Owner Name: Rhys Trenhaile Contact Phone: 519-250-8800 Contact Email: sales@trenhaile.com Number of Views: 33

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