Descripation

Located on approximately 10 acres in the heart of Prince Edward County, this property features an existing 15,732 sq. ft. industrial building with Rural Industrial (MR) zoning, offering strong expansion potential and a range of industrial uses. Office 1859sf and industrial 13873sf, Lot size 761.83 x 643.95 feet. 2 Truck level door. Ceiling 20 feet. Gas Forced Air,There is also a proposal to construct two additional 8,000 sq. ft. metal buildings on the Southeast side of the parking lot, potentially increasing the total building area to approximately 31,732 sq. ft., subject to the necessary approvals and permits.600-volt, 800-amp, three-phase electrical service, with additional power capacity available if requiredNatural gas service connected to the buildingRural Industrial (MR) zoningSignificant expansion and future development potentialThe property currently generates $23,668 per month in rental income, equivalent to $284,016 annually.The landlord is responsible for property taxes, while the tenant pays the utilities. The existing lease has approximately 2 years and 6 months remaining.A purchaser may choose to retain the existing tenant and benefit from the established rental income or explore other options upon reviewing the lease terms and applicable legal requirements.Based on the current annual rental income and the asking price of $3,968,000, the property offers a gross rental yield of approximately 7.16%. The net capitalization rate will depend on property taxes and other landlord expenses.To help facilitate the transaction, the owner is willing to provide up to $2,000,000 in vendor take-back financing at 8% interest for a two-year term, subject to mutually agreed terms and conditions.The owner may also be able to assist with obtaining the necessary permits for the two proposed metal buildings, subject to municipal approvals.