32 Clearview Drive W Tillsonburg, Ontario N4G 4G8

$2,350,000

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:55460)

Business

Business Type	Manufacturing
Business Sub Type	Manufacturing

Property Details

MLS® Number	X14085316
Property Type	Industrial
Community Name	Tillsonburg
Amenities Near By	Highway
Parking Space Total	21

Building

Bathroom Total	1
Age	6 To 15 Years
Cooling Type	Fully Air Conditioned
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Interior	11,000 Sqft
Utility Water	Municipal Water

Land

Acreage	Yes
Land Amenities	Highway
Size Depth	427 Ft ,5 In
Size Frontage	75 Ft
Size Irregular	11000
Size Total	11000 Ac
Size Total Text	11000 Ac
Zoning Description	N/a

https://www.realtor.ca/real-estate/30409768/32-clearview-drive-w-tillsonburg-tillsonburg