Business For Sale · Industrial

309 LORNE AVENUE E, Stratford

309 LORNE AVENUE E, Stratford, ON N5A6S4

$3.0M total

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Asset Class

Industrial

Size

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Building class

B

Zoning

IB — Industrial Business

$ / SF

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Occupancy

88%

Lot Size

2 ac

Clear height

22 ft

Loading docks

5

About this property

Located on high visibility high traffic Lorne Avenue. The site has an entrance off of Lorne Avenue for clients and tenants as well as large parking area for staff it also has an entrance of of Griffith Rd. For loading and unloading. The building has a single phase hydro with multiple tenants at the moment however there is the ability to upgrade to 3 phase at the street perfect for light & heavy construction. The heating source for the building is gas and has half offices on the main floor and high bay warehouse in the rear; the building is air conditioned with a 5 ton unit. The upper floor has offices throughout. Mixed use main floor for multiple tenants or potential with 2 plus acres for industrial. The construction of the building lends itself for expansion as the steel open span structure allows the rear of the building to be opened to potential expansion. Core slab open flooring system loaded on steel beams. Entrance off of Lorne Ave as well as entrance off of Griffith Rd. with ample space for transport turn around. There are 14 by 14 surface loading door as well as man doors to support the use. Environmental study will be done during the listing process. This is a one owner building that has had light use from the start. Signage is a highly visible sign board as well as on the building. For layout of the building as well as details there is an iguide to look at the space as well as all plumbing fixtures and layout. There is additional drawings of the building that may be provided as well. For current as well as future potential this is a great site and is perfect for a mixed use to support the manufacturing as well as light use business for today and potential for expansion in the future. (id:66811)

Financial sandbox

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Estimate
Purchase price$3.00M
Down payment30% · $900K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$14K

Projected NOI

$139K

Annual cash flow

$-27K

Cash-on-cash

-3.00%

DSCR

0.84

Going-in cap

4.64%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

145,422

Households

53,378

Median income

$69,500

Median age

36.9

Daytime population

167,600

5-yr growth

6.5%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 309 LORNE AVENUE E, Stratford.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.