32 Clearview Drive W, Tillsonburg, Ontario

About 32 Clearview Drive W

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:6289)

More Info on this Tillsonburg MLS® listing

32 Clearview Drive W is a listing for sale in Tillsonburg. The MLS® number is X14085316. It features 1 bathroom and covers 11,000 square feet. It's currently listed for $2,350,000. For more details on MLS® X14085316, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This listing in Tillsonburg is available now!

Selling your Tillsonburg property?

Have a similar home to 32 Clearview Drive W? If you’re thinking about selling your Tillsonburg property, then we should chat. Fill in the form on this page, or click request info, and we’ll get right back to you, and we can chat about selling your Tillsonburg property.

Listing Map