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Key Details
Sold Price $4,750,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 45 sqft
Price per Sqft $105,555
MLS Listing ID XH4162331
Sold Date 11/23/23
Abv Grd Liv Area 45
Annual Tax Amount $17,214
Property Sub-Type Industrial
Source Hamilton - Burlington
Property Description
Great industrial investment property with upside potential. Main Tenants are a long term federally approved cannabis growing facility supported by additional land leases with strong covenants for compelling cap rate. Potential for additional income with the renovation of currently vacant building with roughly 6000 square feet of space. Net income $273,800.00. Over 44 acres of land on Highway 8 with easy access to Highway 5. Multiple buildings with ample loading doors both drive-in and truck level (three with levelers). Zoning exception allows for warehouse use for increased potential. Clear heights vary throughout the industrial spaces from 12' to 15'4" in the main building. Secondary buildings currently used as storage, but boast power, floor plans, and clear heights allowing tremendous possibilities.
Location
Province ON
County Hamilton
Area 43 - Flamborough
Zoning P8, P6, A2 Exp. 209
Direction South on Highway 8 from Highway 5 roughly 1km, property on right
Interior
Heating Gas Forced Air Closed
Fireplace No
Exterior
Parking Features Outside/Surface
Utilities Available Yes
Lot Frontage 1636.0
Garage No
Building
Lot Description Urban, Irregular Lot, Greenbelt, Rec./Community Centre
Faces South on Highway 8 from Highway 5 roughly 1km, property on right
Sewer Septic Tank
Water Cistern, Unknown
New Construction No
Others
Senior Community false
Tax ID 175510026
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