| Message Number | 424172 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| status | Active | ||||||||
| Subject Line | Scarborough West Hill. Retail Plaza for Sale. $8,888,888. 11,432 sf. $460k NOI + 5% increase projected for 2025 NOI. Development application for 109,189 GFA. | ||||||||
| Business area |
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| Location, City | Scarborough West Hill | ||||||||
| Have/Want | Have | ||||||||
| Business category | Shopping Centres/Strip Plazas/Retail Commercial Buildings/Hotels/Motels Subdivision Potential/Condo Sites/Townhouse Sites/Building Lots Apartment buildings/multi unit/condo townhouse projects/investments Net Leased Investment |
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| Date of Listing | March 11 2024 | ||||||||
| Type Description | Retail plaza for sale | ||||||||
| Location | 4280-90 Kingston Rd | ||||||||
| Price | $8,888,888.00 | ||||||||
| Size | 11,432 square feet | ||||||||
| Building area | 11432 | ||||||||
| Site area | 30,612 square feet (0.703 acre) | ||||||||
| Zoning | Commercial | ||||||||
| Cap Rate | 5.2% | ||||||||
| Comments | Income producing Retail Plaza with annual NOI of $460k based on current monthly base rents. NOI for 2025 projected to increase by 5% based on lease escalations. Application for Redevelopment submitted for 9-storey mixed-use building with 148 residential units and GFA of 109,189 square feet including 4,639 square feet of commercial use. Assembly Opportunity possible with adjacent properties. Recent improvements to property include increased lighting, new sign boxes above each unit, and update to building fa�ade. High traffic along 6-lane Kingston Rd. Highly visibility to passing traffic. Public transit and close Proximity To Guildwood & Eglinton Go Stations. | ||||||||
| Internet Links | |||||||||
| Member Identifier | 312 | ||||||||
| Client Details | User/Manager Redeveloper/Rehaber |
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| Clients Objective | Taking profit Recognize Value |
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| Broker's Recommendation | 1.75% to co-op broker | ||||||||
| Control | MLS | ||||||||
| Name | Itamar Teich, B.Eng.,MBA | ||||||||
| Title | Sales Representative | ||||||||
| Company Name | Sutton Group-Admiral Realty Inc., Brokerage | ||||||||
| Address Line One | 1206 Centre Street | ||||||||
| City | Thornhill | ||||||||
| State/Province | Ontario | ||||||||
| Zip/Postal Code | L4J 3M9 | ||||||||
| Country | Canada | ||||||||
| Business Phone Number | (416)739-7200 | ||||||||
| Cell Number | (416)823-8735 | ||||||||
| FAX Number | (416)739-9367 | ||||||||
| Email Address | Send Email | ||||||||
| Home Page | Home Page |
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