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Grocery Anchored Shopping Centre In Espanola, On

Not on MLS®

$14,000,000

For Sale: in

Updated Nov 18, 2022
Grocery Anchored Shopping Centre In Espanola, ON

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.

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Location & nearby

This listing is located in Espanola, ON P5E 1J1

Espanola, ON, Canada

Agent Info.

Anthony Spano

REALTOR®

Anthony Spano

REALTOR®

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