395 Red Maple Road
Richmond Hill L4C 6P3
Canada

Property

Ownership: For Sale
Type: Unknown

Financials

Price:C3,888,000
($2,779,400)
(€2,490,100)
Annual Taxes:C16,042.86
Angelo Ferlisi
9 Queen Street Unit 7, Cookstown, Ontario

Exceptional opportunity to acquire a well maintained, income producing automotive service property in a highly sought after Richmond Hill location.

Description

Exceptional opportunity to acquire a well-maintained, income-producing automotive service property in a highly sought-after Richmond Hill location. Situated on the east side of Red Maple Road, approximately 125 metres north of 16th Avenue, and just off Yonge Street, this property occupies a 0.573-acre site and offers excellent connectivity to Highway 404, Highway 407 ETR, Yonge Street and Highway 7. The approximately 8,230 sq. ft. building features four individually leased units ranging from approximately 1,000 to 3,500 sq. ft. All units except Unit 3 include a small office. Currently generating approximately $180,000 in gross annual rental income, the property benefits from four established tenants, primarily operating automotive-related businesses, with a strong interest in remaining and pursuing long-term lease arrangements. Designed for functionality and flexibility, each unit has its own gas meter, while three hydro meters serve the building: Units 3 and 4 are separately metered, and Units 1 and 2 share a meter. Interconnecting doors between units offer potential flexibility for larger configurations, subject to existing leases and required approvals. Automotive-use properties in this central Richmond Hill location are increasingly difficult to find. Whether you are an investor seeking established rental income or an automotive business owner looking to occupy your own premises while generating income from the remaining units, this property presents a compelling opportunity to build equity and explore future use potential. A recent environmental assessment has also been completed by the owner, providing a valuable starting point for purchaser due diligence. Buyers are encouraged to conduct their own due diligence regarding zoning, existing legal non-conforming uses, environmental matters, leases, rental income and future use potential. Most of the ceiling height is 16 feet, but it varies.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.