595 1ST Street, Hanover, Ontario, N4N3V8

Property Description

Exceptional industrial/commercial opportunity at 595 First Street in Hanover. This impressive multi-unit building offers approximately 48,000 sq. ft. divided into 26 individual units, making it ideal for investors, owner-users, and businesses seeking flexible industrial space in Hanover's growing industrial corridor. Each unit features its own private washroom, separate man door entrance, overhead drive-in door, individually metered hydro and gas services, and open-span layout suitable for warehousing, manufacturing, trades, storage, service businesses, showroom, and industrial-commercial uses. The property is equipped with a powerful 3-phase electrical system designed to support modern industrial operations. Ample on-site parking is available for staff and customers, along with a shared loading dock to support shipping and receiving needs. The flexible design allows users to customize units to suit their business operations while offering excellent leasing potential for investors. A major highlight is the future upside potential. Ownership is currently working on a condominium conversion plan, creating the opportunity for future individual unit sales and additional investment flexibility. Investors can benefit from multi-tenant income while positioning for future resale opportunities, while owner-users can secure long-term space in a rapidly expanding market. Situated on a sizable site with room for future expansion and potential for an additional commercial building, this property offers rare growth potential in one of Ontario's emerging industrial markets. Excellent opportunity to acquire a versatile industrial asset with strong income potential, future condo conversion upside, and long-term value. (id:64974)

Quick Facts

• Property Type: Industrial
• Bedrooms: None
• Bathrooms: None
• Living Area: 48,750 sq ft (4,529.0 m²)
• Ownership: Freehold
• Lot Size: 6.5030 acres (2.63 ha)
• Frontage: 392 ft (119.5 m)

Costs

• Annual Taxes: $31,688.79

Listing Provided by: Coldwell Banker The Real Estate Centre
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.