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$ 2,350,000
Est. payment /mo
New
32 Clearview DR W Tillsonburg, ON N4G 4G8
1 Bath
11,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 11,000 sqft
Price per Sqft $213
Subdivision Tillsonburg
MLS Listing ID X14085316
Annual Tax Amount $31,967
Tax Year 2026
Property Sub-Type Industrial
Property Description
Excellent opportunity to own approximately 11,000 sq. ft. of industrial property with 5+ years of operation. Zoning allows for cannabis cultivation. 400 amps, 600 volts (3-Phase) electrical service. Building Size: Approximately 11,000 sq. ft.Year Built: 2021Zoning: MG - IndustrialLand Size: 0.71 acresLocation: Industrial/commercial area just off Highway 3Electrical Service: 400 Amps, 600 Volts, 3-PhaseWater Supply: Municipal water with a 1-inch service lineSewer: Connected to municipal sewer systemNatural Gas: Large natural gas service lineBuilding DimensionsMain building: 60 ft. 156 ft.Additional attached section: 35 ft. 26 ft. 14 ft.Major Renovations and Improvements: The property has undergone approximately $500,000 in renovations and improvements. At the time of purchase, the three HVAC units, each rated at 25 tons, had been removed. The seller subsequently reinstalled all three units, providing a total HVAC capacity of 75 tons. Existing Tenant and Investment PotentialMonthly Rental Income: $13,550Annual Rental Income: $162,600Remaining Lease Term: Approximately 2 yearsAsking Price: $2,350,000Approximate Gross Rental Yield: 6.92% annuallyBased on the current rental income, the property offers an approximately 7% gross annual rental yield before expenses. Vendor Take-Back (VTB) Financing: The seller is willing to provide 50% vendor take-back financing in first position, subject to mutually acceptable terms and due diligence. This financing opportunity may allow a qualified purchaser to acquire the property with reduced upfront capital requirements. A compelling opportunity for investors and owner-users seeking a modern industrial property with existing rental income, substantial improvements, and potential vendor financing.
Location
Province ON
County Oxford
Area Oxford
Interior
Cooling Yes
Exterior
Community Features Major Highway
Utilities Available Yes
Lot Frontage 75.03
Lot Depth 427.48
Building
Building Age 6-15
Others
Security Features No
ParcelsYN No
Virtual Tour https://youtu.be/HsCTxAJEOVo?si=1lx1lg_UCxd94zcx
Listed by CENTURY 21 MILLER REAL ESTATE LTD.