184 Third Ave
Timmins, P4N1C8
For Sale
$460,000
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Retail
CATEGORY3,120 Sq Ft
TOTAL AREAX8088030
MLSIDContact Us
Property Description
Fully Leased, well maintained Commercial Investment property, occupied by AAA Tenants w/long leases with option to extend. Accounting Firm, Tatto Shop + Bsmt rented to a Packaging/stocking business for storage. All 3units w/Sep ent and w/sep hydro meters. Great Cap Rate of Over 7% with an annual rent of 48K Located In The High-Density Area of Downtown Timmins. Very Co-operative tenants, easy to manage sitting from anywhere.
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Extras
Incredible Return. Show And Sell. Motivated Sellers. Don't Miss This Opportunity. Pl Be Discreet, Do Not Go Direct Or Talk To The Employees. Please check Virtual tour. Financials available upon request.
Property Details
Category
Retail
Zoning
General Commercial(Ea-Cg)
Total Area
3,120 Sq Ft
Retail Area
3,120 Sq Ft
Lot Size
30' x 108'
Taxes
$6,952 (2024)
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Listing contracted with Homelife/Miracle Realty Ltd
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This property is an excellent opportunity for investors, with a fully leased, well-maintained location occupied by a AAA tenant. The double net rent of $31,000 per year, along with a long-term lease agreement that runs until April 30th, 2027, with the option to extend for the next 30 years, make it an attractive option. The property's 6% CAP rate offers an impressive return, and it is strategically located in a high-density area. As part of the lease agreement, the tenant is required to cover property taxes and maintenance fees, and there is an escalation in base rent. The roof was replaced in 2014, and the structure dates back to the 1970s, The seller is highly motivated to sell and is eager to show its gem, so don't miss out on this opportunity!
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