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$825,000 total
64,000 SF
Asset Class
Industrial
Size
64,000 SF
Building class
A
Zoning
IB — Industrial Business
$ / SF
$13
Occupancy
94%
Lot Size
64000 ac
Clear height
28 ft
Loading docks
1
A Rare Opportunity in the Heart of Hanover! Locally recognized as the former Knechtel Furniture Factory, also known as the Skyler Peppler Factory, this impressive century-old building offers an incredible 64,000 square feet of space, with approximately 16,000 square feet per floor across four levels. Steeped in local history, this substantial property is in excellent condition and has most recently been utilized for furniture storage. The building features a working freight elevator, smaller office area, washroom facilities, newer roof, updated window glass, drive-in garage door at the lower level and a loading dock at the main level. Ample on-site parking adds to the property's versatility and functionality. The site has also recently undergone a Phase II Environmental Assessment, with a favourable report available for prospective purchasers. The possibilities here are extensive. Continue with industrial, commercial or storage uses, explore redevelopment opportunities, or bring your vision to this unique property. With its size, character and solid condition, there may be potential to transform the building into loft-style residences, condominiums or other creative uses, subject to the buyer's own due diligence and all applicable municipal and county approvals. An additional outbuilding is located on the property and offers further potential, although it is currently in need of repair, including roof reconstruction.Whether you're an investor, developer or entrepreneur looking for a property with scale, history and opportunity, this is a truly unique offering in Hanover. (id:66811)
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Monthly debt service
$4K
Projected NOI
$48K
Annual cash flow
$2K
Cash-on-cash
0.92%
DSCR
1.05
Going-in cap
5.82%
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.
| Tenant | Area | Expiry |
|---|---|---|
| Cascade Foods Inc. | 19,689 SF | 2034-03 |
| Cascade Foods Inc. | 13,273 SF | 2034-03 |
| Cascade Foods Inc. | 8,759 SF | 2034-03 |
| Cascade Foods Inc. | 18,118 SF | 2034-03 |
Trade area within 3 miles of the property.
Population
51,682
Households
19,718
Median income
$74,500
Median age
39.3
Daytime population
53,596
5-yr growth
7.3%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 675 9TH AVENUE, Hanover.
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.