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227 Colborne St

4,203 SF 76% Leased Office Building Port Stanle, ON N5L 1C2 £662,406 (£158/SF) 6% Net Initial Yield

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Executive Summary

This is the opportunity of a lifetime to purchase a landmark building in an incredible downtown location in Port Stanley. The building is located at a stoplight location on a heavily trafficked county roadway. Expect plenty of walk-by traffic as well. 4 commercial units paying rent and a highly in-demand downtown residential apartment. Over 4000 square feet of rentable square footage. Rents are actualized and at market value. Net Rents approaching $85,000.There is also the opportunity to purchase the Apropos business as well as the building and land. The business is a high reputed, household name in Port Stanley that retails fine clothing and accessories. It comes with significant goodwill. There are plenty of allowable uses for the property under current zoning. Port Stanley is developing quickly ahead of the Volkswagen EV Gigafactory launch. This is a perfect place for a savvy investor to have their money go to work.

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

4,203 SF

Building Class

Year Built

2020

Price

£662,406

Price Per SF

£158

Net Initial Yield

NOI

£39,744

Percent Leased

76%

Tenancy

Multiple

Number of Floors

Typical Floor Size

2,102 SF

Zoning

B1 - Business Park Zone

Parking

7 Spaces (1.67 Spaces per 1,000 SF Leased)

Space Availability

1st Floor
1,000 SF
Office
Partial Build-Out
Now

High traffic counts and situated at a stop light location. Would be well suited for and legally permitted for many types of retail or service businesses. Salon, esthetics, tattoo parlor, barber, sunglass shop: use your imagination as the B1 zoning is very permissive for business uses. For a seamstress, it may be the perfect accessory business to the already established Apropos fine clothing retailer in the same building.