Fully Leased Facility for Sale

Special Purpose for Sale
Catylist Listing ID: 30504383
Property Subtypes: Sports/Entertainment
Building Size (RSF): 17,051 SF
Gross Land Area: 52,024 SF
Sale Price: $1,350,000
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/11/2019

Overview / Comments

5116491 Ltd. owns 140 Haarsma Street in East Saint Paul, Manitoba. This building is leased to an indoor soccer complex.
The existing lease is for seven years with two options to renew for 7 more years each (total 14 years).

Lease Overview
 Tenant pays $9,300/month
 Tenant pays all utilities and all other operating costs except:
 Landlord pays for building insurance, snow removal and property taxes (2017 was $15,775)
 Turf upgrade expenses (approximately every 8 years) shared 70/30 between landlord / tenant

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $15,597 (Annual)
Gross Operating Income $111,600 (Annual)
Net Operating Income $83,600 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Skylight Complex
Is Renting? Yes
Annual Revenue $111,600 (Annual)
SF of Space Occupied 17,051 SF
Current Rent $9,300 PSF (Annual)
Lease Expiration 7/2022
Options 2 terms of 7 years each

Additional Details

Nearest MSA: Winnipeg
Market: Winnipeg
Submarket/Township: 3P
Submarket Type: Suburban
Tax ID/APN: 92960.000
Zoning: CH - COMMERCIAL HIGHWAY
Property Visibility: Good
Feet of Frontage: 217
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 17,051 SF
Construction/Siding: Steel Frame
Exterior Description: Stressed Membrane covering
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Ceiling Units
Zoning Description: CH - Commercial Highway
Lot Frontage: 217
Lot Depth: 238
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lot 4, Plan 40399 WLTO #2394564

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Contact

Photograph of Listing Agent

Steven Beal

Beal Business Brokers and Advisors
CPIX® Member
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