1 Firestone Road

$10,499,000
Investment Opportunity: 93,669 SF Building 100% Occupied Long-Term with Potential Upside

42.957698, -81.6085677

Main Intersection
McNab St & High St E
Location
London
Address

1 Firestone Road
Strathroy ON N7G 4L9
Canada

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Building Information

Overall Building Size
93,981 SF
Office Area
8%
Building Type
92%
Zoning
M2
Clear Height
20'
Shipping
4 TL & 15 DI
Sprinklers
Yes
MLS Number(s)
X12133154
Details

Rare fully occupied investment opportunity offering approximately 7% cap rate currently with upside as high as 9% within four years due to escalations and lease renewals. High-quality roster of tenants who plan to stay long-term. Flexible zoning allows outside storage and property sits on 12.2 total acres with approximately 4 acres of unutilized excess land for future development potential to add additional units or for outside storage usage. Extensively upgraded building with new LED lighting, new exterior and interior metal cladding, new electrical wiring, and other work too extensive to list - $2.2 million spent on upgrades over last 8 years. Great building specs with 20 ft clear height in 80% of the building and 16 ft clear height in 20% of the building, and abundant dock-level and drive-in shipping doors.

Additional Information

Total Taxes
$33,343.96