For Lease · Retail

BARN - 2885 ALTONA ROAD, Pickering

BARN - 2885 ALTONA ROAD, Pickering, ON L1X0J9

Price on request

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Asset Class

Retail

Size

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Building class

A

Zoning

CB1 — Low Intensity Business

$ / SF

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Occupancy

82%

Lot Size

7000 ac

About this property

Unique leasing opportunity featuring approximately 5,000 sq. ft. of character-filled space with significant potential for a variety of commercial and community-focused uses. Lots of parking and green space available. Previously operated as a restaurant and theatre for live performances. The property offers ample on-site parking and may be well suited for a Montessori school, place of worship, community space, farmers' market, garden nursery or other creative use, subject to applicable zoning and municipal approvals. The barn requires improvements, and the landlord is open to negotiating lease terms and potential improvements with a qualified tenant. An excellent opportunity for an operator looking to create a distinctive destination in a unique rural setting. Conveniently located approximately 5 minutes from Highway 407 and Highway 7, and 10 minutes from Highway 401. Virtually designed concepts have been displayed for illustration purposes only. Tenant to independently verify zoning and confirm that its intended use is permitted by the City of Pickering. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy82%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$66K

Annual cash flow

$-17K

Cash-on-cash

-3.83%

DSCR

0.79

Going-in cap

4.39%

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

122,089

Households

54,043

Median income

$111,000

Median age

34.6

Daytime population

204,230

5-yr growth

5.8%

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

Secure deal room

Confidential diligence documents for BARN - 2885 ALTONA ROAD, Pickering.

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.