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Norwich,ON N0J 1P0
Key Details
Property Type Commercial
Sub Type Mixed,Building and Land
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 10,276 sqft
Price per Sqft $194
MLS Listing ID 40567108
Abv Grd Liv Area 10,276
Originating Board Woodstock-Ingersoll Tillsonburg
Annual Tax Amount $13,846
Lot Size 0.519 Acres
Acres 0.519
Property Description
Looking for an investment with a return with a 7.5% cap rate? This property is operated as a retirement home with 20 beds, main floor kitchen plus an on-site residence for the owners, a car port , ample parking, and substantial upgrades over the past seven years, including a new elevator, fire suppression systems, windows, stand by generator, and much more. This is a building/land sale only. The tenant will sign a 5 year triple net lease with an extension option for a further 10 years.
Location
Province ON
County Oxford
Area Norwich
Zoning I-2
Direction From 401, south on Highway 59, east on Main Street in Norwich, north side of road.
Rooms
Basement Full
Kitchen 0
Interior
Interior Features High Speed Internet
Fireplace No
Exterior
Garage Attached Garage,Asphalt
Garage Spaces 2.0
Utilities Available Electricity Connected,Garbage/Sanitary Collection,Natural Gas Connected,Recycling Pickup,Street Lights,Phone Connected
Waterfront No
Street Surface Paved
Lot Frontage 130.88
Lot Depth 171.1
Garage No
Building
Lot Description Ample Parking,Highway Access
Faces From 401, south on Highway 59, east on Main Street in Norwich, north side of road.
Story 2
Foundation Block,Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 000650039
Ownership Freehold/None