For Sale · Industrial

675 9TH AVENUE, Hanover

675 9TH AVENUE, Hanover, ON N4N1Z7

$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

About this property

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)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$825K
Down payment30% · $248K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

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.

Rent roll (estimated)

TenantAreaExpiry
Cascade Foods Inc.19,689 SF2034-03
Cascade Foods Inc.13,273 SF2034-03
Cascade Foods Inc.8,759 SF2034-03
Cascade Foods Inc.18,118 SF2034-03

Area demographics

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.

Secure deal room

Confidential diligence documents for 675 9TH AVENUE, Hanover.

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.