1157 St Clair Ave West Toronto, Ontario M6E 1B2
E X C L U S I V E
M I X E D - U S E
O F F E R I N G
M ULTIFAMILY & R ETAIL 1157 St Clair Ave West Toronto, Ontario M6E 1B2
OFFERING SUMMARY
INVESTMENT HIGHLIGHTS
Listed by:
Proforma NOI of $55,200 3-Storey 3,600 Square Foot Building +
1,200 Square Foot Basement 20 Feet of Frontage Along Corso Italia Zoning Permits 5.5x Coverage Current Rents are Below Market Value New Developments Occurring Along St.
Clair Avenue West Laneway at Rear of Properties
Price Down Payment Loan Amount Loan Type Interest Rate Total Rentable SF Price Per SF Year Built Cap Rate - Current Cap Rate - Pro Forma
$1,200,000 (0%) $0 $1,200,000 All Cash 0.000% 3,600 $333.33 1912 3.90% 4.60%
Owner may consider selling adjacent
property.
Offices Nationwide
20 Queen Street W, Suite 2300 Toronto, Ontario M5H 3R3 • Tel: (416) 585 -4646 Fax: (416) 585 -4645
ANTHONY M ARTINO Sales Representative Tel: 647-283-3193 Fax: (416) 585-4645 License: 4738588 [email protected] www.marcusmillichap.com/AnthonyMartino
JASON CASTIGLIONE Sales Representative Tel: 647-308-2738 Fax: (416) 585-4645 License: 4767143 [email protected] www.marcusmillichap.com/JasonCastiglione
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2015 Marcus & Millichap (Activity ID: W3010014 Property ID: 1988960)
11 57 ST CL AI R AVE W EST • T ORONTO, O NT AR IO M 6E 1B2 OPERATING DATA Income
Current
Pro Forma
Apartments - Gross Potential Rent
$28,800
$37,200
Retail - Gross Potential Rent
$36,000
$36,000
Combined Gross Potential Rent
$64,800
$73,200
Gross Potential Income
$64,800
$73,200
Effective Gross Income
$64,800
$73,200
Less: Combined Expenses
$18,000
$18,000
Net Operating Income
$46,800
$55,200
INVESTMENT OVERVIEW Marcus & Millichap's Toronto office is proud to provide on an exclusive basis the opportunity to purchase a 3 storey mixed-use building in the heart of Toronto's "Corso Italia" neighbourhood.
20 Queen Street W Suite 2300 Toronto, Ontario M5H 3R3 Tel: (416) 585-4646 Fax: (416) 585-4645
The property currently generates approximately $46,800 in NOI representing a going in yield of 3.90% of the list price. Current apartment rents are below fair market value representing an opportunity to increase the NOI. Owner may consider selling adjacent property which is identical to subject property and shares the main floor retail tenant. A number of new developments have broken ground or are in final development proposal stages further east of the subject property.
www.marcusmillichap.com
EXPENSES Real Estate Taxes
$14,000
$14,000
Insurance
3,000
3,000
Utilities
1,000
1,000
$18,000
$18,000
Total Expenses Expenses per SF % of EGI
$5.00
$5.00
27.8%
24.6%
Dedicated TTC right-of-way along St. Clair Ave West. makes this building easy to access. 2 car parking for either building is possible.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2015 Marcus & Millichap (Activity ID: W3010014 Property ID: 1988960)
M I X E D - U S E
O F F E R I N G
M ULTIFAMILY & R ETAIL 1157 St Clair Ave West Toronto, Ontario M6E 1B2
OFFERING SUMMARY
INVESTMENT HIGHLIGHTS
Listed by:
Proforma NOI of $55,200 3-Storey 3,600 Square Foot Building +
1,200 Square Foot Basement 20 Feet of Frontage Along Corso Italia Zoning Permits 5.5x Coverage Current Rents are Below Market Value New Developments Occurring Along St.
Clair Avenue West Laneway at Rear of Properties
Price Down Payment Loan Amount Loan Type Interest Rate Total Rentable SF Price Per SF Year Built Cap Rate - Current Cap Rate - Pro Forma
$1,200,000 (0%) $0 $1,200,000 All Cash 0.000% 3,600 $333.33 1912 3.90% 4.60%
Owner may consider selling adjacent
property.
Offices Nationwide
20 Queen Street W, Suite 2300 Toronto, Ontario M5H 3R3 • Tel: (416) 585 -4646 Fax: (416) 585 -4645
ANTHONY M ARTINO Sales Representative Tel: 647-283-3193 Fax: (416) 585-4645 License: 4738588 [email protected] www.marcusmillichap.com/AnthonyMartino
JASON CASTIGLIONE Sales Representative Tel: 647-308-2738 Fax: (416) 585-4645 License: 4767143 [email protected] www.marcusmillichap.com/JasonCastiglione
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2015 Marcus & Millichap (Activity ID: W3010014 Property ID: 1988960)
11 57 ST CL AI R AVE W EST • T ORONTO, O NT AR IO M 6E 1B2 OPERATING DATA Income
Current
Pro Forma
Apartments - Gross Potential Rent
$28,800
$37,200
Retail - Gross Potential Rent
$36,000
$36,000
Combined Gross Potential Rent
$64,800
$73,200
Gross Potential Income
$64,800
$73,200
Effective Gross Income
$64,800
$73,200
Less: Combined Expenses
$18,000
$18,000
Net Operating Income
$46,800
$55,200
INVESTMENT OVERVIEW Marcus & Millichap's Toronto office is proud to provide on an exclusive basis the opportunity to purchase a 3 storey mixed-use building in the heart of Toronto's "Corso Italia" neighbourhood.
20 Queen Street W Suite 2300 Toronto, Ontario M5H 3R3 Tel: (416) 585-4646 Fax: (416) 585-4645
The property currently generates approximately $46,800 in NOI representing a going in yield of 3.90% of the list price. Current apartment rents are below fair market value representing an opportunity to increase the NOI. Owner may consider selling adjacent property which is identical to subject property and shares the main floor retail tenant. A number of new developments have broken ground or are in final development proposal stages further east of the subject property.
www.marcusmillichap.com
EXPENSES Real Estate Taxes
$14,000
$14,000
Insurance
3,000
3,000
Utilities
1,000
1,000
$18,000
$18,000
Total Expenses Expenses per SF % of EGI
$5.00
$5.00
27.8%
24.6%
Dedicated TTC right-of-way along St. Clair Ave West. makes this building easy to access. 2 car parking for either building is possible.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2015 Marcus & Millichap (Activity ID: W3010014 Property ID: 1988960)
