Listing Details
Co-op commission: 1%
Subtype: Shopping Centre, Grocery/Convenience Store, Plaza and Strip Mall
Zoning: Commercial
Floors: 1
Sale type: For investors
Tenancy: Multiple
Financial Details
Net operating income: $855,000
Cap rate: 6.12%
Description
Commercial mall located in Espanola, Ontario (population is about 10k people). It's north of Highway 6 and has approximately 775 feet of frontage on the Highway. The property is presently improved with an approximate 106,946 square feet of gross leasable area. Strong National tenancies including FreshCo, Dollarama, Marks Work Warehouse & more. Fresh Co’s rent to sales ratio is one of the best in the province. Dollarama just renewed their lease and they also just signed a brand new 10 year deal w/ Pizza Hut. Additional upside with concrete interest from both Dairy Queen and Popeyes Chicken to build pad sites on the property. Further upside in releasing the former Anytime Fitness unit that is a prime 3,000 sq ft.
Location & nearby
This listing is located in Espanola, ON P5E 1J1
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