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$ 9,550,000
Est. payment /mo
Active
691-709 Pine ST Sault Ste. Marie, ON P6B3G2
42,360 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 42360
Square Footage 42,360 sqft
Price per Sqft $225
Subdivision Sault Ste. Marie
MLS® Listing ID SM260426
Lot Size 4.130 Acres
Acres 4.13
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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Exterior
Parking Features No
Community Features Bus Route
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Sewer Municipal sewage system
Listed by Century 21 Choice Realty Inc.
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