queen street west · 2019-11-25 · queen street west’s premium retail corridor between spadina...
TRANSCRIPT
502 QUEENSTREETWEST
Brett Taggart Sales Representative 416 495 6269 [email protected]
Brad Walford* Vice President 416 495 6241 [email protected]
Sean Comiskey* Vice President 416 495 6215 [email protected]
THE OFFERING// EXECUTIVE SUMMARY
CBRE Limited (“CBRE” or “Advisor”) has been retained to offer for sale a 100% freehold interest in 502 Queen Street West, Toronto, ON (the “Property”). The Property is improved with a three-storey, 3,135 square foot building on a 1,828 square foot lot.
502 Queen Street West provides an investor a great opportunity to acquire an income producing asset along Queen Street West’s premium retail corridor between Spadina Avenue & Bathurst Street. The Property is fully leased to Cauldron Ice Cream, offering a care-free investment with contractual net rent growth. The Property is located in the Country’s most densely populated city, with strong underlying fundamentals.
PROPERTY OVERVIEW// PROPERTY PROFILE
Address 502 Queen Street West
Height 3 storey
Lot Area 0.042 ac.Building Area 3,135 sq. ft. Frontage 15.18 ft.Depth 122 ft.Zoning CR 3.0 (c2.0; r2.0) SS2 (x1385)Official Plan Mixed-Use AreaSecondary Plan DT Plan MU Areas 3 · Main StreetHistoric Designated District – Part IV
Cap Rate 4.25%ASKING PRICE $3,725,000
The Property is improved with a three storey building that has been well maintained and was recently renovated in 2018. The electrical power capacity has been upgraded to 200 Amp 600V service. The gas line has also been upgraded to 2 inches and HVAC capacity is 2.5M BTUs. A sprinkler system was also installed throughout the entire building. The building also features a fully functional basement, currently outfitted for kitchen preparation including cold storage. 502 Queen Street West has historical designation.
PROPERTY OVERVIEW
SUBJECT PROPERTY
Brad Walford*Vice PresidentT +1 416 495 [email protected]
Sean Comiskey*Vice PresidentT +1 416 495 6215 [email protected]
*Sales Representative | All outlines in this document are approximate
CBRE Limited2005 Sheppard Avenue East, Suite 800
Toronto, Ontario M2J 5B4www.cbre.ca
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth
Brett TaggartSales RepresentativeT +1 416 495 6269 [email protected]
Lisa SirotininaClient Services AssistantT +1 416 495 6274 [email protected]