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$ 16,990,000
Est. payment /mo
Active
15 CURITY AVENUE Toronto (o'connor-parkview), ON M4B1X4
70,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 70,000 sqft
Price per Sqft $242
Subdivision O'Connor-Parkview
MLS® Listing ID E12176542
Source Toronto Regional Real Estate Board
Property Description
New Price 57,000 Sq. Ft. Industrial Commercial Space | Eglinton / Don Valley Toronto | Motivated Seller! Rare opportunity to secure a 57,000 sq. ft. industrial warehouse on a 70,000 sq. ft. site in Toronto's Eglinton/Don Valley corridor, minutes from downtown and major 400-series highways. Approx. 15% of the building is office space; the balance is industrial/warehouse with ceiling heights up to 19 ft, multiple loading positions, and up to 2,000 Amps of power (currently equipped with 600 Amps). The building is in good condition (inspection report available) and was appraised at $19.5M. Due to the sellers need for liquidity and approx. $500,000 in optional remediation work remaining for some groundwater cleanup (approx. $600,000 already spent) the property is offered at a significantly reduced price. The seller is open to negotiating the cost of the remaining remediation. The property has a mortgage and can be financed; a lender has expressed interest in providing up to $12M as a first mortgage based on the buyers profile. Documentation includes a risk assessment, two Phase 2 reports (spanning 10 years), building inspection, survey, floor plans, appraisal, and remediation work completed details. A free consultation with the company that conducted the work can be arranged as part of the due diligence of an offer, to better understand what has been done . Flexible E1 zoning allows a wide range of uses: warehousing, manufacturing, storage, shipping terminals, renewable energy, and more. Floor plate can be subdivided for multi-tenant use. The property features lower property taxes compared to similar assets, outstanding logistics to add to the value. The property can be offered vacant or with a tenant, depending on the offer. The seller is extremely motivated and committed to a prompt sale, with offers being reviewed on July 25. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Other
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by RIGHT AT HOME REALTY