Jag Patel
Broker
$9,495,000
Available - For Sale
Listing ID: W12060442
2390 Cawthra Road , Mississauga, L5A 2X1, Peel
| The property is an irreplaceable, "small-bay" multi-tenant property designed to demise into as many as 10 separate units of + 3,000 SF each. The units offer highly functional rectangular layouts and are primarily served by drive-in shipping doors. Recent capital improvements include a roof replacement (2022) and partial re-paving of the asphalt areas (2018). Currently, the property is 72% occupied by five tenants with a remaining weighted average lease term (WALT) of approximately one year. Due to its strategic location, small unit sizes and near-term lease expiries, the Property is potentially well-suited for a conversion into "strata-condos". Individual "strata-condo" units are estimated to sell in the $460 to $480 per SF range, a significant premium to the asking price for the Property. The Property is offered for sale with an assumable mortgage advanced on the basis of a "strata-condo" conversion with the ability to advance a further $2,000,000.00 for renovations and conversion costs. Alternatively, an investor could keep the Property as an income-producing asset and grow rents to a market range of $19.00 Net per SF. |
| Price | $9,495,000 |
| Taxes: | $56994.52 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 2390 Cawthra Road , Mississauga, L5A 2X1, Peel |
| Postal Code: | L5A 2X1 |
| Province/State: | Peel |
| Legal Description: | PT LT 11, CON 1 SDS TT, AS INVS132115; T |
| Directions/Cross Streets: | Cawthra Rd/Orwell St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Industrial |
| Building Percentage: | T |
| Total Area: | 30902.00 |
| Total Area Code: | Square Feet |
| Sprinklers: | Yes |
| Washrooms: | 0 |
| Rail: | N |
| Clear Height Feet: | 14 |
| Truck Level Shipping Doors #: | 1 |
| Double Man Shipping Doors #: | 1 |
| Drive-In Level Shipping Doors #: | 8 |
| Grade Level Shipping Doors #: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Partial |
| Sewers: | Sanitary+Storm |
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| COLLIERS |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
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At a Glance:
| Type: | Com - Investment |
| Area: | Peel |
| Municipality: | Mississauga |
| Neighbourhood: | Dixie |
| Tax: | $56,994.52 |
| Fireplace: | N |
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