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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Subdivision Picton Ward
MLS Listing ID X13532334
Annual Tax Amount $31,365
Tax Year 2025
Property Sub-Type Office
Property Description
Offered at a 6.6% CAP Rate. Turnkey three-unit commercial investment in downtown Picton rented to government and institutional tenants that have been in place since 1993. Long-term leases in place with automatic renewals at market rent. 12,392 sq. ft. building on 0.835 acres with 55 on-site paved parking spaces and additional municipal lots and free parking steps away, and green space at the back of the property. The site is zoned CG-6 with full municipal services. The building, originally built in 1970 and fully renovated in 1993, features concrete block construction, an acrylic stucco exterior, and a TPO flat roof, which was replaced in 2020. Separately metered units with 3-phase 400-amp service, 5 rooftop HVAC units, a fire alarm system, and an elevator (tenant-maintained). Unit 1: 6,596 sq. ft. completely renovated in 2024 on two floors, Unit 2: 4,967 sq. ft., Unit 3: 829 sq. ft. The rent is calculated on 11,688 sq. ft. of net inside floor space. No easements or rights-of-way. The building is located 1 block from the center of Main Street, Picton.
Location
Province ON
County Prince Edward County
Area Prince Edward County
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 77.88
Lot Depth 269.49
Building
Building Age 51-99
Others
Security Features Yes
ParcelsYN No
Listed by Gordons Real Estate Brokerage Ltd.
Nearby Locations
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