Description

Coveted investment property for sale in the heart of the Junction offered at healthy going in 5.1% cap rate. Fully renovated building in Landmark location. Ground floor leased to AAA optometrist tenant on strong triple net lease, who has tenanted the building for 15 yrs & in business in The Junction for 42 yrs. Current lease term runs to 2027 + option to renew (&desire for tenant to stay) with annual rent escalations. 2nd Fl is 1x1 bedroom apartment and 1x2 bedroom apartment, both presently leased. Retail unit has a fully renovated lower level of approx. 1000 SF of additional + usable space, currently used for optometry lab. Clean, well-maintained building with top to bottom renovations. A strong carefree investment with future upside. 2 parking spaces at rear. Modern heating/cooling system. Bright, clean apartments, recently renovated & repainted. Front and rear access with rear laneway. Rare opportunity to buy a stable cash flowing property on the best block in the Junction. **EXTRAS** Low maintenance, well cared for property along the bustling Junction's best retail block. Landlord open to a creative deal structure, EG interest-only Vendor Take-Back Mortgage to qualified buyers.