Business Type: Industrial
Date Listed: Tue, Dec 04, 2018
Property Tax: N/A
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Property Description for 7147 RUSSELL AVE
Great Investment Property!! M4 Zoned 2 Level Warehouse Building with over 4.1% Cap Rate near Metrotown, with 2,509 SQ FT of Warehouse/Office Space on main level, 867 SQ FT of Office Space on the Second level and additional Storage Space of 151 SQ FT Property! The Building is currently Leased out to an Automotive Repair Shop for $5500/MO NNN for 5 Years + 5 Year Renewal, Leased Commenced September 2018, with 1.8% Escalations every Year! Gross Property Taxes including Utilities is $14,712.50 for 2018. There is a second Tenant Upstairs Leasing 1 Large Office Space for $700/MO Gross including Utilities! Currently, there is 200 Amp Single Phase Power in the Building, however Power can be Upgraded to 3 Phase at a reasonable cost. The Fixtured Auto Repair Tools in the Automotive Repair Shop must be purchased for an additional $50,000.