INVESTMENT OPPORTUNITY – GRAND VIEW PLAZA! An excellent opportunity to own a fully leased commercial property offering strong income, long-term tenancy and minimal owner involvement. Grand View Plaza generates $8,450 per month in base rental income, or $101,400 annually, plus GST, with all three spaces secured by triple-net leases. Current rents include $2,700/month for the liquor store, $1,500/month for the barber shop, and $4,250/month for the grocery store business and bay. Two new five-year leases and one new three-year lease are in place. Tenants are responsible for their respective operating expenses as set out in the leases, including property taxes, insurance, utilities, and their own snow removal.The plaza benefits from two established, long-term tenants who intend to stay, along with an exciting new business expected to bring additional traffic to the property. Significant capital improvements have already been completed, including a new roof and all four rooftop heating and air-conditioning units in 2019, plus replacement windows in the liquor store in 2022.Located along a busy corridor just off Highway 56, Grand View Plaza offers excellent accessibility, easy vehicle access and a large parking lot.Adding another unique layer to this investment, the sale includes ownership of the Grand View Grocery business, along with the equipment, shelving and fixtures used to operate it. The grocery business and bay are currently leased under a new five-year agreement, providing rental income without requiring the purchaser to operate the store.With $101,400 in annual base rental income plus GST, triple-net leases, long-term tenancy, significant capital improvements already completed and minimal ongoing owner responsibilities, Grand View Plaza presents an attractive opportunity for an investor seeking high income with a hands-off ownership structure. (id:27476)
