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$ 1,795,000
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2137 Lake Shore BLVD #102 Toronto W06, ON M8V 1A3
2,000 SqFt
UPDATED:
12/23/2024 01:46 PM
Key Details
Property Type Commercial
Sub Type Commercial Retail
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $897
MLS Listing ID W8448388
Annual Tax Amount $12,124
Tax Year 2024
Property Description
Fully Renovated Commercial Unit in the Heart of South Etobicoke, at the base of 389 Unit Nautilus Condo. Offered 100% Vacant, Perfect For an End User/ Investor. Extremely high 26' ceilings. NEW: HVAC, floors, washrooms and lots of plumbing for professional/ medical/ service based uses. Potential to add mezzanine space. Demised as over 12 private offices/ treatment rooms, with 2 washrooms, 2 showers, laundry vestibules, and kitchenette. Turn key space for various types of retails, office or medical service uses. Large visitor parking area in the building, anchored by Rabba Grocery Store. Building has excellent truck level shipping and receiving direct to the rear of the unit. Bonus basement crawl space for easy access to plumbing/ improvements. Seconds from the Gardiner/ QEW with abundant parking and high vehicle/ foot traffic and large signage. Previously a very successful physiotherapy unit. Owner is retiring. Business available but not mandatory. Turnkey space suitable for a wide variety of uses/ tenants. Potential 6.8% + Cap Rate for investors. Economical space for end users. Preferred closing date of Feb 2025, offering mutually beneficial timing for financing. Potential for a business/asset JV with current owners. Carefree Investment Opportunity in the Heart of South Etobicoke's Parklawn & Lakeshore hub. 100% leased to multi-location corporate Physiotherapy Clinic on a NET NET NET basis for a strong 10 year term. Excellent financial covenant & tenant track record with corporate guarantee. $102,000 Year 1 NOI escalating up to $120,000 by y10. 5.7% going in cap rate (at asking price) with annual rental growth.
Location
Province ON
County Toronto
Community Mimico
Area Toronto
Zoning Commercial
Region Mimico
City Region Mimico
Interior
Cooling Yes
Inclusions Fixtures not owned by current tenant
Exterior
Community Features Major Highway, Public Transit
Utilities Available Yes
Lot Frontage 20.0
Others
Security Features Partial
Listed by CUSHMAN & WAKEFIELD