Randy Beck - at your Beck and call
randy@randybeck.ca
613.541.9221
him
ID#: 360860053 Status: For Sale

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RE/MAX Finest Realty, Brokerage - Kingston

Randy Beck
Sales Representative

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Telephone:
613.389.7777

Cellular:
613.541.9221


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$1,250,000
Location:

1040 GARDINERS RD, Kingston Ontario

1040 GARDINERS RD, Kingston Ontario
Description:
Outstanding and rare opportunity in this free standing office building. Located in the prime visibility and traffic corner of Gardiners Road and O’Conner Drive, Kingston west side 2 minutes south of highway 401. The building contains 8,500 square feet of rentable space over 2 floors plus interior foyer, washrooms, and hall ways. 6 of the units are in the 1,000 sq. ft range with 4 smaller units. There is ample parking for staff and visitors. The current tenants are in the financial, insurance and management categories; on long term leases with escalation rent. Tenants pay their own metered power, heat and A/C. Leases are triple net; plus 2017 common costs are $6 per sq. ft. Fully leased this building can gross some $150,000 and achieve a cap rate of 8%. This building has been humming along fully rented by the current owner for nearly 20 years however the time has come to move on. The perfect buyer will continue as owner occupied and take one of the larger vacant units.
Property:
Type: Commercial2017 Taxes: $25,535
Lot Dimensions: 186 X 150`
Structure:
Type: Office SpaceAge: 21-25
Square Footage: 5k-10k
Heating: Heat Pump
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1040 GARDINERS RD, Kingston Ontario

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Finest Realty Inc, Brokerage, 1329 Gardiners Road, Kingston ON, K7P 0L8
Independently Owned And Operated