2988 16 HIGHWAY, Terrace | $1,280,000

Fully leased 2,880 square foot convenience store to a national tenant on 4.2 acres (sale of land and building only). Currently in the 5th year of a 5 year lease term with Circle K. Tenant has occupied the Property for over 20 years. In place net income generates a 6.33% cap rate on asking price. Renewal net income (starting January 2025) will produce a 7% cap rate on asking price.

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Description

Fully leased 2,880 square foot convenience store to a national tenant on 4.2 acres (sale of land and building only). Currently in the 5th year of a 5 year lease term with Circle K. Tenant has occupied the Property for over 20 years. In place net income generates a 6.33% cap rate on asking price. Renewal net income (starting January 2025) will produce a 7% cap rate on asking price.

General Info

MLS Listing ID: C8060030 Bedrooms: 0 Bathrooms: 0 Year Built: 0
Parking: N/A Heating: N/A Lotsize: 4.32 ac Air Conditioning : N/A

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Disclaimer: E. & O.E. The information contained in this brochure has been obtained from the owner and other sources deemed reliable, but is not guaranteed by Planet Group Realty Inc. or BALJIT KOCHHAR– PREC* . Prospective Buyers should make full independent investigation of all facts of the property, including legal, accounting & taxation, prior to purchase .