Prime Muskoka Commercial Property! Investors / End Users / Live & Work! 11 acres with 700ft frontage Windermere & Raymond Road (Muskoka Lakes) High visibility. Year-round traffic! 3000 SF commercial building incl 1000 SF 2-bay auto repair shop with 2023 clean ESA parking for 35 cars! Plus 1000 SF renovated 3 bedroom bungalow! Zoning allows for multiple uses including Cannabis retail!
$599,000
5 INDIAN STREET E, CAYUGA
Unique Comm. building, excellent visual traffic exposure. Solid Post & Beam constructed multiuse building zoned “MG” (General Comm.) allowing for several permitted uses. 3 levels (6695sf) of open floor space w/period wood work & 4 conc. silos. Recent updates inc pine B&B exterior-24 & metal roof-24 plus hydro, municipal water/sewer & n/gas at building (not connected). Ideal dance/ fitness studio, prof. office, small manufacturing/warehouse/storage facility etc.
$5,500,000
RARE 194ac property
$802,000
39
TALBOT STREET W, CAYUGA
Incredible Investment Opportunity - sit. on 0.44ac prime corner lot enjoying unobstructed westerly views of Grand River. Incs 5226sf garage ftrs 2685sf office space, 2685sf shop space, walk/ drive-out basement & 1 bathroom. Serviced w/n/g unit heater, 200 amp hydro & municipal water/ sewers. Property can ONLY BE PURCHASED w/same Buyer purchasing 3 Cayuga St & 0 Ouse St. (TOTAL list price of 3 properties is $1,300,000) Sold “AS IS-WHERE IS”. Offers presented at 5pm May 28/24
Current London area investment opportunities for sale
- 21,855 sf on 0.94 acres - ASA1 zoning - Retail building on main artery in London
Get more information
Meg Drive, London
Cranberry Road, Tillsonburg - 11,270 sf on 1.52 acres
- 57.70 acres - Zoned Future Development - Located in growing Tillsonburg
Charlie Gobert Sales Representative, Principal +1 226 289 2836 charlie.gobert@avisonyoung.com
8 spacious condo townhomes for sale. All 3 bed,1.5 baths, walk-out basements, private courtyards and attached single car garages. Units fully tenanted and being sold in a bundle, making this a unique investment to add to your portfolio. Tenants pay own hydro, 4+2 visitor parking.Roof reshingled 2020, electric heat throughout, no central air, 8 owned water heaters,windows approx10-12 yrs. There is possibility to add additional units on the approximate 31,000 SQFT. $3,800,000
- Fully leased asset - Office and warehouse use, zoned LI 6 & 7
Future development possibilities in this 4.798 Acre parcel of land that borders Welland/Thorold. Adjacent property, in Welland boundary, is zoned low density residential. Property is close to Brock University Campus (15 Minutes), Niagara College (1km) new residential developments, plaza for shopping and all amenities and close to highway Access. Land only for sale. Current zoning FD - EP2. Contact for more info. MLS H4117393. $3,225,000
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PRESIDENT & PUBLISHER Leo Racioppo leo@mediaclassified.ca
GRAPHIC DESIGNER Yvonne Poon All submissions from interested parties will be considered. Please submit to the editor at editorial@mediaclassified.ca
Contents of this
Condo-titled
ROAD, KITCHENER
•
Survey: More Millennials look to own recreational property
A RE/MAX survey released June 6 and conducted by Leger finds 56 per cent of Millennials are in the market to purchase a recreational property. This is up 14 per cent from last year when 42 per cent of this demographic considered buying recreational property.
In 2018, 91 per cent of recreational markets surveyed reported it was Baby Boomers, especially retirees, who were driving the recreational market. The increase in buying intentions among younger people shows the start of a new trend in who will fuel this segment of the property market, and what they are looking to purchase.
“We are finally witnessing the long-anticipated generational shift of purchasing power from Baby Boomers to Millennials,” says Christopher Alexander, executive vice-president, RE/MAX of OntarioAtlantic Canada. “With the high cost of urban living taking many young homebuyers out of those markets, more Millennials are turning to recreational properties as a viable option for home ownership.”
Price remains the top consideration for recreational property buyers, with 61 per cent of survey respondents naming affordability as the most important factor. However, liveability also plays a crucial role in the selection process.
“This new buyer demographic comes with a different lifestyle and property criteria than those of their Boomer counterparts,” Alexander adds. “Factors like Internet connectivity, recreational activities and proximity to towns with urban conveniences are becoming a more important selling feature.”
The survey also reveals that 64 per cent of Canadians want recreational properties to relax and spend time with friends and family. Forty-three per cent say they are able to do things not available at their permanent residence, such as hiking and fishing, with Millennials ranking higher (50 per cent) than Boomers (38 per cent) in this sentiment.
When it comes to the actual property, the survey also found that other than affordable purchase price, Canadians who own or would consider owning a recreational property named reasonable maintenance costs waterfront access, and proximity to town as the most important factors when purchasing.
These findings differ regionally, with more Atlantic Canadians (39 per cent) looking for seclusion compared to residents in western provinces (28 per cent) or Ontario (26 per cent).
Ontarians, on the other hand, are more likely to look into the property’s proximity to town and
the accessibility of nearby medical facilities.
Additionally, the findings revealed that 54 per cent of Canadians travel (or would like to travel) to their recreational property in about two hours or less, while 22 per cent travel (or would travel) three or more hours. CI
Key findings from the 2019 RE/MAX Recreational Property Omnibus Survey
1. Forty per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property
2. Canadians cite the following reasons to own or want to own a recreational property:
• It is where I can go and relax and spend time with friends and family = 64 per cent
• It is a getaway home = 58 per cent
• I can do activities I can’t do at my permanent residence (hiking, fishing, etc.) = 43 per cent
• It is an investment property = 30 per cent
• It is a retirement home = 20 per cent
• Other = two per cent
3. Thirty per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank the highest at 33 per cent, compared to Boomers at 28 per cent.
4. More than half (54 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up
to two hours, 24 per cent saying they would travel two hours. Slightly less (22 per cent) are willing to travel three or more hours.
5. Canadians identify the following features as important when considering their current recreational property or a future purchase of a recreational property:
• Affordable purchase price = 61 per cent
• Reasonable maintenance costs = 46 per cent
• Waterfront access = 45 per cent
• Proximity to town = 44 per cent
• Reasonable distance from primary residence = 35 per cent
• Relative seclusion = 28 per cent
• Land access = 24 per cent
• Proximity to sports/recreation = 24 per cent
• Nearby neighbouring properties = 12 per cent
• Island property = seven per cent
• Other = one per cent
• None, don’t mind which features my recreational property has = seven per cent
• Don’t know/prefer not to answer = seven per cent
KITCHENER | RETAIL
501 KRUG STREET
2,110 SF | $18.00/SF
KITCHENER | RETAIL
4411 KING STREET E. 875-1,239 SF | $32.00/SF
Chad Ritzer* x 3033
James Boudreau** x 3020 BRESLAU | RETAIL
| RETAIL
5 HICKORY STREET E. 1,800 SF | $40.00/SF
Eric Frey* x 3118
#LC1- 508 RIVERBEND DR. 7,031 SF | $1.00/SF
10 TOWNSEND DRIVE
2,558-24,202 SF | FROM $25/SF
James Boudreau** x 3020
Lester Tobin* x 3023 KITCHENER | OFFICE KITCHENER | OFFICE
370 UNIVERSITY AVE E. 1,011 SF | $32.00/SF
Peter Benninger** x3000
#101-146 MANITOU DR. 809 SF | $22.00/SF
KITCHENER | RETAIL
#G-125 SEABROOK DR. 905 SF | $36.00/SF
Lester Tobin* x 3023
#B-650 RIVERBEND DR. 5,998 SF | $18.00/SF
Lester Tobin* x 3023
2960 KINGSWAY #N014B 1,219 SF | $ CALL AGENT
James Boudreau** x 3020
| OFFICE #201-260 KING ST. W. 7,110 SF | $14.50/SF
| OFFICE WATERLOO | OFFICE KITCHENER | RETAIL
James Boudreau** x 3020
James Boudreau** x 3020 14 ERB STREET W. 500-2,500 SF | FROM$1,668/MO
Each office is Independently Owned and Operated
Re-igniting your financial goals
Money is a key stressor for most Canadians. They know it’s a problem but are reluctant or unable to break their bad financial habits. “The fact is, financial ignorance is not bliss,” says Gregory Brown, former associate manager with the Desjardins Financial Security Independent Network in Surrey, British Columbia.
Why do you think people avoid financial planning?
Many Canadians believe the Canada Pension Plan and Medicare will be able to support them during retirement. But these safety nets will become depleted as the number of retirees continues to increase over the next 20 years. We’re told to save for retirement, but most people are unable to picture what retirement
looks like. If you can’t picture it, how can you prepare for it? So, you just don’t and avoid it altogether.
How do you overcome the fear?
First of all, take ownership for your past financial behaviours and your future financial goals. Be honest with yourself and know that anything is possible with a plan. Next, write
down your short- and long-term personal and financial priorities. Your financial goals will support your personal goals, so the two should be aligned.
Once we have our plan, what’s next?
It’s important to make time for regular financial discussions with your partner and some key family members. It’s also a good idea to work with a financial advisor who can facilitate the conversation and provide professional and unbiased objectivity. It’s never too late to make financial adjustments even if they appear out of control. It just means that you have to get organized, ask for help and start making informed choices. CI
News Canada
• 5,591 sqft commercial building located in Quinte West
• The entire building/site is currently leased long term to a commercial Tenant on a 100% carefree basis to the Landlord
• The building was built new for in 2018 to superior standards and quality
• Don’t miss out on this exceptional investment opportunity!
$1,998,000
MLS# X11938079
• This unique investment property offers an excellent combination of commercial and residential income potential
• Property features three commercial units, nine residential units, and a tenanted commercial lot of land
• The commercial units include a 900 sqft garage, a 1,000 sqft warehouse with two offices, and an 850 sqft unit with two office spaces
• The residential component consists of seven 2-bedroom apartments and two 1-bedroom apartments
• The property includes one main building that houses the three commercial units along with three residential units
• Additionally, there is a separate residential building containing four more residential units, as well as two mobile homes on the property
• Prime commercial development opportunity on Bell Blvd, Belleville
• 26.71-Acre vacant site with 1,090 ft of frontage, offering unparalleled visibility and access to the Quinte Region
• Situated just East of WalbridgeLoyalist Road and Hwy 401 and interchange, this property is ideally located for Belleville’s ongoing growth
• Zoned C3, it allows for a range of potential uses, including community centers, hotels, amusement parks, stadiums, or other similar large-scale uses and more
• Full municipal services available.
COMMERCIAL OFFICE SPACE FOR SALE IN PRINCE EDWARD COUNTY
• Discover a fantastic commercial opportunity in the heart of Consecon, PEC
• Situated on a 0.13-acre lot
• Total of 2,964 square feet of versatile space
• The building has been completely upgraded both interior and exterior, including all mechanical systems, plumbing, electrical, etc
• With Local Commercial (LC) zoning, the property permits uses such as professional offices, a convenience store, a personal service shop, and more
• The main floor offers approximately 1,200 square feet of bright, open space, perfect for customer-facing operations or retail purposes
• Above, the mezzanine area provides an additional approx. 500 square feet, suitable for private offices, additional workspace, or storage
• Whether you’re looking to establish a new business or expand an existing one, this property’s flexible layout and excellent location make it a prime choice.
$398,000
MLS# X11938327
TURNKEY INVESTMENT OPPORTUNITY
• This income generating property features two fully tenanted buildings offering a steady revenue stream
• Building #1 consists of 7 residential units and 1 commercial unit
• The residential units include 4 two-bedroom apartments and 3 one-bedroom apartments, catering to diverse tenant needs
• The commercial unit is an 800 sqft garage/workshop
• Building #2 offers 2 residential units: a ground floor 2-bedroom apartment and a basement 2-bedroom apartment
• With reliable tenants in place and a mix of residential and commercial income, this property presents a fantastic opportunity for investors looking to expand their portfolio.
$1,398,000
• A great investment opportunity awaits with
• Currently home to Hollandale Landscaping and Garden Centre
• Situated on a 5.39-acre lot with 580 feet of frontage
• Business has been thriving for over 70 years
• Hollandale’s legacy as a trusted garden center and landscaping service is wellestablished, making this an ideal investment for those looking to step into a prosperous business or repurpose the land for other commercial ventures
• Asking price includes the land and buildings only, with the equipment and inventory negotiable
• The property features a 1,500 sqft retail storefront
• The retails space then opens up into five greenhouses totaling 8,800 sqft, two of which are heated and ventilated, allowing for year-round operation
• There is a 1,000 sqft dry shed with three bay doors
• Additionally, there is a 1,200 sqft workshop with a 10x10 drive-in door
• Complementing these are two hoop houses, covering a total of 3,800 sqft, offering versatile space for growing or storage
• Zoned Commercial Rural (CR) this property allows for a variety of uses, including a banquet hall, a farm produce retail outlet, hotel, building supply outlet, personal service shop, and many more
MLS#: X11953467
COMMERCIAL BUILDING FOR SALE IN STIRLING, ON
• The Trenton Logistics Center will be a new, “”build-to-suit”” opportunity for industries looking to relocate or grow in the hub of Eastern Ontario
• The total site size is approximately 10.5 acres
• Site is approved and shovel ready for a pre-engineered 141,200 sqft building footprint
• Being only 6 minutes from the Glen Miller Road exit, this site has quick and easy access to the 401
• This site provides efficient access to vital transportation routes from Toronto, Ottawa, Montreal, and major markets in the United States
The Developer is prepared to work with a Tenant/Buyer regarding their specific building needs
Final sale price will be subject to Buyers final building specifications
Estimated lead time for occupancy is 18 months from contract date.
VACANT LAND FOR SALE IN BELLEVILLE
• Current zoning is RU
• Future Residential Development Opportunity!
• Located at the North end of Bellevilleone of Eastern Ontario’s fastest growing cities
• The site is 4 minutes from the 401
• The property is 36 acres between Vermilyea Road and Sunningdale Drive
• Approx. 1000 ft of lot frontage
• Once introduced to the urban serviced area, based only total lot size and official plan policies the following maximum unit counts are possible: low density = 364 units, medium density = 874 units, and high density = 1,676 units
• City of Belleville currently considering expansion of the official plan due to the rapid growth and overwhelming demand for new homes in the region
$2,800,000
• This turnkey banquet facility is a prime waterfront property located in Corbyville, ON
• Just minutes north of the 401
• Sits on the Moira River
• Known as one of the most sought-after wedding and special event venues in the Quinte Region, it was formerly operated as the “River Inn” and “Henry’s Place”
• The building spans approximately 3,420 square feet and includes a spacious outdoor seating area
• Features include kitchen facilities, hardwood floors, a cozy fireplace, and a historic 18-foot bar
• The lease also provides exclusive use of approximately 2.5 acres, 500 feet of scenic river frontage perfect for memorable wedding photos, and ample paved customer parking
MLS#: X11009081
• Well maintained home with added modern additions.
• Located in Stirling, ON
• Total Building Area is 9,313 sqft.
• Located on a prime 0.5 acre corner lot
• Building offers many different possibilities for future uses
• R-2 Zoning
• Notable features such as the electrical fireplace, fire alarms, security system, sound system, service lift, solid concrete floors, open areas for possible meetings or larger service gatherings, and large parking area
• Building has been renovated including: all new electrical, plumbing, drywall, and insulation
• Additionally, a new 3-ton HVAC system (2021), new rubber membrane roof, new shingles, and new furnace (2021) were also installed MLS#: X11938364
$765,000
• 35.5 Acres of vacant land Prince Edward County (Demorestville)
• 660 Feet of frontage on both Black Road and County Road 14
• Zoned RU-2, this property allows a range of uses, from single detached dwellings and home businesses to private home daycares
• Non-residential options include agriculture, farming, or conservation area
• Existing use is Q-Logic Water Solutions operational yard and maintenance building, which includes Trailer Park Model Home on site
• Business and equipment are available for sale
• Situated in the heart of Prince Edward County this land enjoys easy access to major roads, ensuring convenient transportation for both residents and businesses
(Business) // $638,000 (Land)
• Located just outside of Wellington, PEC
• This 17-acre vineyard supplies grapes to a local winery
• The property features 146 rows of 8 ft highdensity vines
• Grape types including 6.58ac Pinot Noir, 3.52ac Chardonnay, 2.88ac Pinot Gris, and 1ac Melon de Bourgogne
• Planted in Hillier clay loam soil
• Zoned RU-1, this property opens the door to diverse possibilities, such as a charming bed-and-breakfast, or designing your own single detached dwelling
• Whether you choose to develop this land or leave as is to expand/create your own thriving winery experience, the possibilities for this property are endless
• Conveniently located on the Millennium Trail in PEC, this vineyard offers a perfect blend of seclusion and accessibility
$1,595,000
MLS#: X11938347
Useful terms to know before signing a commercial real estate lease
Whether negotiating the terms of your commercial lease agreement or trying to get a better picture of the full costs you’re about to assume, understanding the terminology of your contract is crucial.
While it’s always best to have your lawyer (preferably one specializing in commercial real estate) review your agreement, here are some of the more common terms you’ll want understand – before you sign.
1. Incidental expenses
Your costs on top of base rent. These can include property tax, insurance, utilities, maintenance, common area costs and repairs.
2. Common area maintenance
This is an incidental expense in some commercial real estate leases. All tenants generally share common
area costs. Examples include fees for snow removal, janitorial services, landscaping, grass cutting and property management.
3. Gross rent lease
When you pay a single amount to the landlord that covers base rent and all incidental expenses.
4. Modified gross lease
When you and the landlord share certain incidental expenses.
5. Net lease
Where you typically pay for one incidental expense directly. In a single-net lease, you usually pay the
base rent plus property taxes (though in some cases, you might pay for insurance or utilities instead). The landlord pays all other expenses.
6. Double-net lease (NN)
When you usually pay the base rent plus two incidentals – for example, property taxes and insurance. The landlord covers all other expenses.
7. Triple-net lease (NNN)
A type of commercial real estate lease under which you typically pay the base rent, plus property taxes, building insurance and utilities, as well as other operating and maintenance costs. The landlord assumes no costs, other than those for structural repairs.
8. Percentage rent lease
Where you pay a base rent plus a percentage of gross sales over a certain minimum. These are usually
used in malls and other multi-tenant retail locations.
9. Tenant improvement allowance
A cash amount offered by a landlord to help you pay for renovations to a leased space. The allowance is usually a certain amount of money per square foot of rented space. It is sometimes offered as a tenant inducement.
10. Tenant inducements
Incentives offered by a landlord to encourage you to rent a space. Examples include several months’ rent free or help with paying for leasehold improvements.
11. Trade fixtures
Items in a leased space that you can take with you when you move out and can generally be easily removed without damaging the property.
Examples include furniture, inventory and computers. Get advice from a commercial real estate lawyer before signing a lease to clearly define trade fixtures and to seek exclusions for assets you want to take with you when you leave.
12. Turnkey improvements (also known as turnkey buildouts)
Renovations that a landlord carries out at your request when you sign a lease. A landlord may agree to these as a tenant inducement.
13. Leasehold improvements (also known as tenant improvements)
Renovations to a leased commercial real estate space to make it suitable for your business. Unless otherwise specified in the lease, any improvement that is attached to the building usually becomes the
property of the landlord, meaning you can’t take it with you when you move out. Examples can include machinery, flooring and built-in shelving. Get advice from a commercial real estate lawyer when negotiating a lease to seek exclusions for assets that you want to take with you when you leave.
Remember: If necessary, you can always apply for a leasehold improvement loan, a short-term loan (often amortized over five or six years) that you can use to pay for renovations to a leased space. You can sometimes negotiate a principal holiday for the first six to 12 months of the loan. Depending on the value of the improvement, a bank may accept the improvement as collateral for the loan, which could result in a lower interest rate than that for an unsecured loan. CI
Source: bdc.ca/en
• 36 EMPLOYMENT ZONED CONDO UNITS
• EVERY UNIT HAS A LOADING DOOR
• 1,300 SQ.FT. AND UP, FROM $410/SQ.FT.
• 2023 Q4 OCCUPANCY
• WALK TO LEASIDE RETAIL AMENITIES AND LAIRD/EGLINTON LRT STOP
• LOW COST CONDOMINIUM MANAGEMENT THESE TYPE OF UNITS NEVER LAST
RENTING OUT YOUR CONDOMINIUM
BY
JACQUELINE
MONETA JD WITH
ASSISTANCE
FROM JAYSON SCHWARZ LLM
Buying a condominium as a rental property can be a great investment, but now that you’re a landlord, it’s important to understand the rules and regulations that govern you and your tenant.
What rules apply?
All landlords and tenants are governed by the Residential Tenancy Act, 2006 (RTA). The RTA outlines the rights and responsibilities of landlords and of tenants who rent residential properties. It also covers the leasing agreement and issues such as maintenance and repairs, tenancy agreements, rent, entering a rental unit and ending a tenancy.
In a condo building, the Condominium Act, 1998 also applies. The Condominium Act sets out the relationship between the owners, condo corporation and board of directors.
This means that you have to give your tenants a copy of the condo rules and make sure they adhere to them. The condominium corporation may have its own rules on rentals as well, which could include a minimum number of months for the rental and other obligations. It is important to read your condo rules prior to entering any lease agreement.
Do tenants have access to amenities?
Tenants must follow the same rules as owners, and have the same rights as owners when using building amenities.
However, parking spaces and/or lockers can be included in the lease agreement at the discretion of the unit owner. Owners can choose to retain those for themselves or rent them to another tenant.
How much can you charge?
When you’re renting a unit to a new tenant, you can set the rent based on current market prices. There is no maximum. The market price for a unit may be higher than that paid by a previous tenant.
The RTA covers most types of rental units. Generally, landlords can increase rent:
• only once every 12 months;
• with 90 days written notice; and
• based on the guidelines set for that year by the Ontario Ministry of Municipal Affairs and Housing.
Subletting and short-term rentals
What if your company sends you for three months of training in another city? It is becoming more and more popular to list your condo on a shortterm rental site to make some money while you are away.
Be careful; lots of new condos have specific rules governing shortterm rentals, such as a minimum number of months on a lease. When
buying an income property, it is important to read the rules prior to firming up your deal, and express this intention clearly to your realtor and lawyer. These rules prevent owners from converting their units into a vacation rental. Condo declarations can also spell out requirements, such as each unit shall be occupied and used only as a private single-family residence.
If you’re renting out a unit for a longer term, any tenants have to abide by the terms of the rules and declaration, too. Therefore, a tenant cannot lease the unit out for shortterm stays.
If you decide to sublet your unit, notify your insurance company to see if and how your policy covers damage caused by tenants.
When renting out your condo unit, you are responsible for following the rules of the corporation. Always check the rules to make sure you’re not in violation. Make it clear in your rental agreement that your tenant is bound by the condo rules, and give them a copy.
A condo can make a great investment, but you’ll save time and money if you put in some work at the beginning to understand your rights and responsibilities as a landlord. CI
530’ Frontage+ 4 acres, grade level, fully serviced. Present use as fenced outside storage yard {100%). Existing income!! Outstanding location close to future GO station, 401 exit & 407. Remarkable opportunity. 60% coverage. Asking $4,000,000
OUTSTANDING INFILL SITE - OSHAWA-
$3,500,000
Two road frontages and 1.58 acres. Close to Oshawa Shopping Centre! Includes full gravel fenced yard and 11,500 sq. ft. Industrial/Commercial building with Tenants. R5-13 zoning for 4-storey apartment building or perhaps townhouses?? Perfect ingredients! Collect good income while acquiring a high density site!
Bowmanville Diamond in the Rough! Former Home Hardware location with approximately 12,000 sq. ft. includes three drive-in doors, warehouse and huge paved parking. Close to Dollarama, Shoppers Drug Mart, Metro Food Store, Schools, Hospital. High Density; You Name It! Hard to find a better spot! $12.00 per sq. ft. as is!!
PRIME INDUSTRIAL WITH EXCELLENT TENANT! BOWMANVILLE!
Close to 401 exits, choice industrial 1.5 acres with fully net income $63.000 annually 5% escalations. Strong Tenant and clean environmentals. ideal corner lot exposure includes modern mobile trailer. Ideal for small investor or future expansion. $1,700,000.
SMALL INVESTOR ALERT - BOWMANVILLE - COMMERCIAL
Small commercial building in excellent condition on high traffic exposed street. Comes with Tenants or vacant possession. Ideal for professionals or small business owner looking to invest for themselves! Accessible and onsite parking! Downtown location in high density designation. Priced to move!! Call for details $795,000. Take a Look.
BOWMANVILLE.
CLARINGTON - 11,000 SQ. FT, INDUSTRIAL $10.00 PER SQ. FT.
Can be divided to smaller space. Ideal for small business. Vacant and ready to move in. Ceilings 16’ clear, Drive-in door.
OSHAWA OFFICE SPACE - $9.00 PER SQ. FT.! WOW!
Busy Simcoe St. location, onsite parking, second floor elevator! Clean & Secure.
PROFESSIONAL & MEDICAL ARTS - NEWCASTLE - FOR LEASE
Prime Highway #2 with excellent parking. Modern fresh new space in fast growth community. Ideal for business location. No disappointments. Units available for 1, 100 sq. ft. or larger. It’s the right move!
Premium investment opportunity (6% cap rate) in the coveted Leslieville neighbourhood. This 3 Storey Commercial/residential property is comprised of 1 retail space on the main floor (Approx. 2,200 sqft) and 2 residential apartments on the second and third floors respectively. Conveniently located on Queen Street East, the location offers excellent foot traffic and with the increased density coming to the neighbourhood, offers sustainability moving into the future. For more information visit, www.theeastside.ca
SkyViews Your Price for ‘Upside’
SkyViews Your Price for ‘Upside’
Finding Value in the Grey Areas
Finding Value in the Grey Areas
By Cliff Ford, Skyview Realty
By Cliff Ford, Skyview Realty
With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.
With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.
If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.
If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.
What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.
What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.
When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself
When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself
can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.
can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.
Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.
Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.
To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.
To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.
You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.
You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.
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