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278 Lorne Street Sudbury, Ontario P3C 4P7

In Floor Heating

$399,000

Location .. Location .. Location!! Welcome to 278 Lorne where our location speaks volumes!! At this site your business has great exposure to high vehicle traffic -free advertising! Our 8000+ sq.ft. building offers two units available to lease out- separate or combined. Currently our right-side unit is leased to our Blue-Chip tenant Magna Charge Battery Corporation. They are a very solid lessee with 6 years left on their current agreement and provide great income & cover all costs! *View our income & expense breakdown! This unit is 6310 sq.ft. with a large storefront, warehouse & washroom. Our other unit on the left side is 1700 sq.ft. and 350sq.ft. in the basement. We feature a waiting room or storefront, boardroom, washrooms, 6 offices and back warehouse. We were owner occupied but now available for you to bring your business here!? Or lease it out at $12/ft for rental income! Our building has seen many renovations by our seller and ready for its new owner! We are a solid block building, concrete flooring with in-floor & overhead natural gas heating, rubber membrane roof, steel exterior, 16 ft ceilings, front parking, two loading bays at the back, this building can accommodate a variety of uses! Nestled next to CP rail we lease the land our building sits on and share their M1 zoning. Dont miss this opportunity to add to your real estate portfolio! * Note: Please see my brokerage website for further details. (id:35617)

https://www.realtor.ca/real-estate/23451198/278-lorne-street-sudbury

Property Highlights

  • Located on Leased Land
  • Solid Solid Construction
  • You Own the Building
  • You Do Not own the Land
  • New Rubber Membrane Roof
  • High- Traffic Area
  • Close to Downtown
  • Long-term Tenants
  • Renovated Income Building
  • Leased Land CP Rail
  • In Floor Heating
  • Superb Location
  • Magna Charge Tenant
  • **$7500 a month
  • Tenant pays their Own Fees
  • **Taxes – Heat – Hydro
  • Ample Parking
  • Rear Loading Doors
  • Easy Access
  • Commercial
  • Financial Freedom
  • Great Neighborhood
  • Size: 897′ Frontage Approx.
  • Taxes: $10,000 Approx.
  • Legal Description:  PT N1/2 LT 5 CON 3 MCKIM EXCEPT PTS 7 & 8 53R20022; PT LT 6 CON 3 MCKIM N OF LORNE ST; GREATER SUDBURY
  • Directions: In Sudbury travel to property address 911# 278 on Lorne St. Across from Hemlock St
  • NOTE: Magna Charge has a 1 year Lease remaining and a 5 year Lease option with no increase

 

Location .. Location… Location !!

Welcome to the world of investment & at this site is where our location speaks volumes !!

Commercial property with such a location has ample exposure and expansive parking – which is very difficult to locate in our lovely city.

At this site your business will be exposed to high traffic and free advertising galore just with passing vehicular traffic.

Our building is a renovated commercial income building where we offer – where we provide over 8000 ft.² of rentable – lease space.

The site provides two leasing areas almost all on one level ..

The front right of the building is where our blue chip tenant is located – who is a very solid lessee.

Our Blue-Chip tenant is Magna Charge which is currently on a long-term lease and provides $7200 dollars per month plus all costs over and above.

The tenant pays for their own insurance, heating, taxes and all utilities plus HST.

Magna Charge currently occupies about two thirds of the site & shares in the agreement for allocated parking for the abutting leaseholders.

Due to covid this site it is currently vacant – maybe you have a need for such a location for your business ??

The remainder of the main floor site which is 1500 ft.² could be rented at – leased at $12 per foot ++++ without any doubt…

This site is the front left side comprises of office space – board room & also provides an additional 350 ft.² in the basement which houses the bathrooms & storage.

Due to covid this site it is currently vacant – maybe you have a need for such a location for your business ??

This is an opportunity if you’re in need of a downtown location with parking that this purchase could have you commercially residing for free.

Now that is an opportunity !!!

Included in the Document File are the following:

1. Income & Expenses
2. Rent Roll

To be clear you do not own the land, it is leased from CP rail, on a long-term lease, but you do own the building – its yours!!

Many buildings are owned where land is leased throughout the City of Sudbury the railway came through downtown eons ago.

This is an opportunity for an Investor – great opportunity.

Absolutely No Walk Abouts!

Property Details

MLS® Number 40143634
Property Type Other
Equipment Type Water Heater
Rental Equipment Type Water Heater

Building

Basement Development Unfinished
Basement Type Full (unfinished)
Heating Type In Floor Heating
Stories Total 1
Size Exterior 8080.0000
Utility Water Municipal Water

Land

Acreage No
Sewer Municipal Sewage System
Size Frontage 897 Ft
Size Total Text Under 1/2 Acre
Zoning Description M1-1

https://www.realtor.ca/real-estate/23451198/278-lorne-street-sudbury

Interested?

Contact us for more information


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