264 Mackenzie Street, Sudbury, Ontario P3C 4Y6

NET OPERATING INCOME $79,420 GENERATING A 10% CAP RATE. Not For Profit Child Care with a Government supported Tenant on a long term lease. This property is located in the heart of downtown Sudbury. The Tenant at their own expense will be installing an artificial grass surface and playground structures throughout the playground area in the Spring at their projected expense of $300,000. The tenant also contributed 50% of the expense of the two new furnaces and air conditioners were installed in 2020. The tenant is committed to this property as they also invested $300,000 in leasehold improvements when they moved in. This is a turnkey operation which is fully operational. The tenant all through the pandemic was always able to meet their financial lease obligations and continue to do so. (id:27476)

This property is a Freehold ownership type, with a net operating income of $79,420, generating a 9.5% CAP rate. It is home to a Not For Profit Child Care facility with a Government supported Tenant on a long term lease, situated in the heart of downtown Sudbury.

The Tenant has plans to install an artificial grass surface and playground structures throughout the playground area in the Spring, at an estimated expense of $300,000. Additionally, they have contributed 50% of the expense for the installation of two new furnaces and air conditioners in 2020. The Tenant has also invested $300,000 in leasehold improvements when they moved in, making this a fully operational turnkey operation.

Despite the challenges posed by the pandemic, the Tenant has consistently met their financial lease obligations and continues to do so.

This property is currently on the market for sale, with a land size of under 1/2 acre, located at 264 MacKenzie Street in the city of Sudbury, Ontario. The postal code for this property is P3C4Y6, and it features a brick exterior finish and a high-efficiency furnace for heating.