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FOR SALE 965 Jane Street, Toronto

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FOR SALE 965 Jane Street, Toronto FOR SALE 965 Jane Street, Toronto ROSELAND SQUARE NEIGHBOURHOOD PLAZA Visit www.jll.ca Opportunity An excellent opportunity to acquire a fully tenanted retail plaza in the up-and-coming neighbourhood of Eglinton and Jane. The Property is ideal for an investor looking to capitalize on below market rental rates, a developer looking to re-position the asset or a user-owner looking to own their own premise with ample parking. The asset is located minutes from the western terminus of the Eglinton TTC Line at the new Mount Dennis Subway and GO Station. Asking Price Key Highlights Corner location with a total land area of 14,100 SF Fully leased neighbourhood plaza $1,850,000 Below market rent provides significant future rental growth potential Convenient access to future Eglinton Subway Line, minutes from the new Mount Dennis Station at the Line’s western terminus Location Located on the east side of Jane Street south of Eglinton Avenue West, the Property is well located in the residential neighbourhood of Rockcliffe-Smythe. The Property serves the residential neighbourhood, as well as those at Roselands Jr. Public School directly across the street. Access to public transportation is provided by the Route 35 bus line running north from Jane Station. The new Eglinton TTC Line, scheduled to be completed in 2021, will also provide a boost to local transportation with its western terminus located at the Mount Dennis Station at Weston Road (both a subway and a GO Station). The introduction of this station will provide local residents with convenient access across the GTA, and will contribute to increased residential and commercial development in the immediate area. Property Details Frontage: 134 FT Year Built: 1988 Depth: 105 FT Parking: Twenty (20) Surface Spaces Site Area: 14,070 SF Zoning: RM (F12.0; U2; D0.8) Building Area: 5,201 SF Official Plan: Mixed Use Area Fully Leased With Rental Rate Upside The asset is currently fully leased to an attractive roster of service oriented tenants. The current in-place rents are significantly below market, and the short term tenancies allow for the opportunity to immediately leverage market leasing growth fundamentals. The in-place net rents average $13.98 PSF, while the average market lease rate in the area range from $18-$20 PSF. The asset’s Year one net operating income is $86,979 with the Year two forecasted net operating income growing to approximately $100,000. Offering Guidelines Jones Lang LaSalle Real Estate Services, Inc. (the “Advisor”) has been retained by Precise Capital (Jane) Limited, (the “Vendor”), on an exclusive basis, to sell 965 Jane Street, Toronto, Ontario (the “Property”). The Property is offered for sale at a price of $1,850,000 and will be sold on an as-is, where is basis, free and clear of debt. The Vendor’s objective is to maximize sale proceeds while preference will be given to Offers with limited conditionality and timely closing. Offers should be submitted to the attention of Elliot Medoff at 199 Bay Street, Suite 4610, Toronto, ON, M5L 1G3. For more information please contact: Elliot Medoff* Vice President JLL Capital Markets Group © 2016 Jones Lang LaSalle IP, Inc. All rights reserved. The information contained in this document is proprietary to Jones Lang LaSalle and shall be used solely for the purposes of evaluating this proposal. All such documentation and information remains the property of Jones Lang LaSalle and shall be kept confidential. Reproduction of any part of this document is authorized only to the extent necessary for its evaluation. It is not to be shown +1 416 238 9768 to any third party without the prior written authorization of Jones Lang LaSalle. All information contained herein is from sources deemed reliable; however, no representation or warranty is made as to the accuracy thereof. Visit us at www.jll.ca [email protected] *Sales Representative / *Broker.
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