Looking for an investment with a return with a 7.5% cap rate? This property is operated as a retirement home with 20 beds, main floor kitchen plus an on-site residence for the owners, a car port , ample parking, and substantial upgrades over the past seven years, including a new elevator, fire suppression systems, windows, stand by generator, and much more. This is a building/land sale only. The tenant will sign a 5 year triple net lease with an extension option for a further 10 years. (id:47421)
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Listed By
Re/Max a-b Realty Ltd Brokerage
Data Provided By
Woodstock Ingersoll Tillsonburg and Area Association of REALTORS® (WITAAR)
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Detailed Information
Lot
131 x 171 ft
Communication Type
High Speed Internet
Features
Elevator, Paved driveway, Passenger elevator
Listing Contract Date
2024-04-08
Location Description
From 401, south on Highway 59, east on Main Street in Norwich, north side of road.
Ownership Type
Freehold
# of Parking Spaces
10
Property Type
Office
Transaction Type
For sale
Zoning Description
I-2
Building
Basement Type
Full
Exterior Finish
Brick
Fire Protection
Alarm system
Foundation Type
Poured Concrete
Stories Total
2
Size (Exterior)
10276
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Attached Garage
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Telephone
Available
Land
Total Size
0.519 acres
Access Type
Road access, Highway access
Sewer
Municipal sewage system
Size of Irregular Land
0.519
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