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1 Elizabeth St 21,865 SF 100% Leased Office Building Orangeville, ON L9W 7N7 For Sale
EXECUTIVE SUMMARY
Colliers International (“Colliers”) is pleased to be the exclusive representative for the sale of One Elizabeth Street, Orangeville (“the Property”). The opportunity consists of a 21,865 SF medical building, on a 2.24-acre land parcel, 5 minutes from Downtown Orangeville. One Elizabeth Street is a fully-leased medical building generating $404,495 in NOI that is currently tenanted by four tenants, with a weighted average lease term (WALT) of 4.2 years. Recently constructed by the Vendor in 2013, the property benefits from substantial paid parking, as well as additional land that can be developed into either commercial or residential development. On the west portion of the Property, there includes 0.63 acres of excess land currently being utilized as parking for patients of the medical building. The Vendor has architectural plans for a 3-storey residential development that would encompass 26,500 SF of GFA potential on the land, presenting additional value-add for the prospective purchaser. Collectively, the combination of a stabilized medical building, in conjunction with the value-add component of the additional 0.63 acres of excess land, the Property provides the prospective Purchaser with a unique, robust investment opportunity in one of Ontario’s fastest growing markets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
21,865 SF
Building Class
B
Year Built
1950
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
10,933 SF
Parking
111 Spaces
1 1
Walk Score®
Walker's Paradise (91)
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1 Elizabeth St
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