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Essential Services Commercial Centre 302 Queen Street East 13,500 SF 100% Leased Retail Building Sault Ste. Marie, ON P6A 0E5 $3,500,000 CAD ($259.26 CAD/SF) 6.83% Cap Rate
INVESTMENT HIGHLIGHTS
- Significant Capital Improvement
- Stabilized Asset
- Strong Location & Visibility
EXECUTIVE SUMMARY
302 Queen Street East has long been an iconic address in Downtown Sault Ste. Marie. Following a change in ownership and a complete revitalization, it has been re-established as a true staple in the community. The drug store was formerly located at Station Mall - an enclosed mall that has struggled to retain customer traffic after losing both anchor tenants. The drug store owners recognized that a standalone site would better serve their customers with improved visibility and accessibility. In 2020, the Queenstown I.D.A. was launched at this location.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
13,500 SF
Year Built
1960
Price
$3,500,000 CAD
Price Per SF
$259.26 CAD
Cap Rate
6.83%
NOI
$239,050 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.48
Lot Size
0.64 AC
Zoning
B6
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
1 of 7
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Essential Services Commercial Centre | 302 Queen Street East
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