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124 Manville Rd

19,700 SF Vacant Industrial Building Toronto, ON M1L 4J5 $6,800,000 CAD ($345 CAD/SF) 6% Cap Rate

Executive Summary

Rare opportunity to acquire a two-story industrial building housing a total of 7 tenants, centrally located in Scarborough at Warden Ave & Eglinton Ave. This property spans 19,700 sq. ft. and sits on a generous 1.346 acre lot. Comprising 7 units with varying ceiling heights ranging from 12 ft to 16 ft, all units are currently leased on a month-to-month basis. The property offers versatile permitted uses including mechanic shops, body shops, and outside storage, with the added bonus of a gated impound facility. A total of 95 parking spaces are provided, including 30 car spots within the fenced impound facility. Gross rent collected totals $25,500 + HST, with the landlord responsible for property taxes, insurance, and utilities. There is potential to increase rental income. This property presents a unique opportunity for end-users, as buyers can occupy 2 units while collecting rent from the remaining 5 units.

Property Facts

Price $6,800,000 CAD
Price Per SF $345 CAD
Sale Type Investment or Owner User
Cap Rate 6%
Property Type Industrial
Property Subtype
Warehouse
  • Industrial Service
Building Class C
Lot Size 1.36 AC
Rentable Building Area 19,700 SF
No. Stories 2
Year Built 1972
Parking Ratio 1.52/1,000 SF
No. Drive In / Grade-Level Doors 10

zoning

Zoning Code MgVs
MgVs
  • Listing ID: 30954649

  • Date on Market: 2024-02-14

  • Last Updated:

  • Address: 124 Manville Rd, Toronto, ON M1L 4J5

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