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2390 Cawthra RD Mississauga, ON L5A 2X1
30,902 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 30,902 sqft
Price per Sqft $307
Subdivision Dixie
MLS Listing ID W12060442
Annual Tax Amount $56,994
Tax Year 2024
Property Sub-Type Investment
Property Description
The property is an irreplaceable, "small-bay" multi-tenant property designed to demise into as many as 10 separate units of + 3,000 SF each. The units offer highly functional rectangular layouts and are primarily served by drive-in shipping doors. Recent capital improvements include a roof replacement (2022) and partial re-paving of the asphalt areas (2018). Currently, the property is 72% occupied by five tenants with a remaining weighted average lease term (WALT) of approximately one year. Due to its strategic location, small unit sizes and near-term lease expiries, the Property is potentially well-suited for a conversion into "strata-condos". Individual "strata-condo" units are estimated to sell in the $460 to $480 per SF range, a significant premium to the asking price for the Property. The Property is offered for sale with an assumable mortgage advanced on the basis of a "strata-condo" conversion with the ability to advance a further $2,000,000.00 for renovations and conversion costs. Alternatively, an investor could keep the Property as an income-producing asset and grow rents to a market range of $19.00 Net per SF.
Location
State ON
County Peel
Community Dixie
Area Peel
Zoning E2-131 Business Employment
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 174.0
Lot Depth 374.0
Others
Security Features Yes
Listed by COLLIERS