Listing Presented by LESTARI RUPERT with St. Thomas & Area (519) 280-2517
MLS®#: 157014 $796,000 12 LAING Boulevard ST. THOMAS ON N5P 4B9
Description: Great investment opportunity or a location for your business (with 60 days notice) with additional income. 10,100 sq.ft. building currently rented to 6 tenants. One tenant on lease; 5 tenants month to month and those 5 rents can be adjusted by giving 60 days written notice. 7 overhead doors, 2 compound areas at rear- one on north included in rent with unit #2, one compound area included in rent for #5. All tenants pay their own heat and hydro. Owner pays property taxes, maintenance, insurance and water. Lease details available with signed Confidentiality Agreement. Net operating income about $58,675. Effective February 1, 2019, rent increases will bring the yearly gross income to $75,348. With current net income (assuming no mortgage), the cap rate is 7%.
City of St. Thomas
Natural Gas,Unit Heater