691-709 Pine ST, Sault Ste. Marie, Ontario, P6B3G2

Property Description

PRIME OPPORTUNITY TO ACQUIRE A FULLY STABILIZED, 100% OCCUPIED, GROCERY-ANCHORED PLAZA IN THE HEART OF SAULT STE. MARIE. PINE PLAZA IS A WELL-ESTABLISHED NEIGHBOURHOOD RETAIL CENTRE COMPRISING APPROXIMATELY 42,455 SF, ANCHORED BY A TOP-PERFORMING NATIONAL GROCERY TENANT WITH LONG-TERM LEASE OPTIONS, PROVIDING EXCEPTIONAL INCOME STABILITY AND CONSISTENT FOOT TRAFFIC. THE PLAZA FEATURES A DIVERSE TENANT MIX OF RETAIL, SERVICE, AND FOOD USERS, CREATING A STRONG DAILY-NEEDS DESTINATION FOR THE SURROUNDING COMMUNITY. A FAVOURABLE LEASE EXPIRY PROFILE WITH A WEIGHTED AVERAGE LEASE TERM (WALT) OF APPROXIMATELY 3.65 YEARS. THE 2023 RENOVATION WAS MORE THAN FACADE; UNITS 2, 3, 4, 5 NEW VANILLA SHELLS; UNITS 2-8 ALL NEW ROOFTOP HVACS. STRATEGICALLY LOCATED ON PINE STREET, A MAJOR ARTERIAL CORRIDOR, THE ASSET BENEFITS FROM EXCELLENT VISIBILITY, ACCESSIBILITY, AND STRONG SURROUNDING RESIDENTIAL DENSITY. FREEHOLD OWNERSHIP, ESTABLISHED TENANCY, AND BUILT-IN UPSIDE THROUGH RENTAL GROWTH AND FUTURE RE-TENANTING OPPORTUNITIES MAKE THIS AN IDEAL INVESTMENT FOR BOTH PRIVATE AND INSTITUTIONAL BUYERS SEEKING A CORE-PLUS RETAIL ASSEST WITH RESILIENT FUNDAMENTALS. (id:64974)

Quick Facts

• Property Type: Retail
• Bedrooms: None
• Bathrooms: None
• Living Area: 42,360 sq ft (3,935.4 m²)
• Lot Size: 4.1300 acres (1.67 ha)
• Frontage: 438 ft (133.5 m)

Costs

• Annual Taxes: $173,226.00

Listing Provided by: Century 21 Choice Realty Inc.
Board: Sault Ste. Marie Real Estate Board
Data provided via CREA DDF®.