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"32 apts senior tenants, pharmacy, clinic"
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On Georgian Bay Real Estate Inc., Brokerage
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| Andrew Sobczak |
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Email Andrew |
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Phone: |
705 543 1341 |
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Business: |
705 543 1341 |
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Cell: |
705 543 1341 |
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Address:
Peterborough
Type: Multifamily
Style:
Lot Type: Rectangular
Taxes: $61,000.00 CAD (2008)
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2 buildings with 32 apartments, pharmacy and medical centre in Peterborough.
The main building has 32 apartments (with elevator) plus 6 medical doctor offices on main level.
New lease tenants in this building will be social worker and dietician offices.
The 2nd smaller building just had a $350,000 extension finished for 2 more family doctors,
moving the pharmacy to a bigger space and new leased therapist tenant.
The largest pharmacy tenant has escalating lease and a rapid increase in rents.
The pharmacy is expanding and the landlord is making room for a nurse practictioner and
social worker, the funding for it has been applied for and approved.
These new commercial tenants wil bring another $2,000 per month.
Current rents are approximately $25/sf for doctors and $50/sf for pharmacy with heating, hydro & taxes included.
The 2 buildings are about 30 years old but very well maintained and show like new.
Absolutely no interest in holding a second mortgage for a purchaser. There is no mortgage on the property.
Electric heating. No separate hydro meters. Landlords pay hydro for all tenants.
Roof was re-done about 14 years ago.
Parking fees, collected by the owners directly, are just under $30,000 per year and
were increased 50% in Feb this year which will bring in another $1,250 a month.
An intimate mid-rise residence of only 32 suites. Senior residential tenants, most of them signed leases.
Residents have long recognized the many advantages of living in this relaxed east end of Peterborough.
These prominent suites are beautifully situated in the center of a quiet community and
only steps away are shops, banks, a library, and a local farmer’s market.
The local transit stops right outside your door.
Net income for 2006 was $270k, for 2007 was $288k and for 2008 was $320k.
Financials are available on request with confidentiality agreement signed.
Property taxes $61,000. Asking price $4.7 mln |
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