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Listing Presented by LESTARI RUPERT with St. Thomas & Area  (519) 280-2517
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Contact:LESTARI RUPERT
St. Thomas & Area
Mobile:(519) 280-2517
Fax:(519) 631-9716
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MLS®#: 157014 $796,000 12 LAING Boulevard ST. THOMAS ON N5P 4B9
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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%.
Directions: N/A
Property Type:
COMMERCIAL
Area:
City of St. Thomas
Neighborhood:
St. Thomas
Lot Dimensions:
125.00X300.00
Taxes:
$10,527.60
Tax Year:
2018
Heat:
Natural Gas,Unit Heater
Sewer:
Municipal Sewers
Water:
Municipal
Zoning:
M-1
ROYAL LEPAGE TRILAND RLTY(4)