4280-4288 Kingston RoadToronto E10, Toronto, ON, M1E 2M8
4280-4288 Kingston RoadToronto E10, Toronto, ON, M1E 2M8
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Listing History
Buy/sell history for 4280-4288 Kingston Road, Toronto E10, ON M1E 2M8
| Date Start | Date End | Event | Price | MLS# |
|---|---|---|---|---|
0 Transactions by CPRB Agents
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Description
4280-4288 Kingston Road (the "Property") is a well located retail plaza that features strong rental rate upside in Scarborough - a community experiencing exponential population growth. Comprising 11,519 sq. ft. of GLA, the Property is 100% leased to a complementary mix of tenants that features reasonably low WALT's and in-place net rental rates that are ~20% below market. The retail plaza is divided into 10 units and is fully leased, providing diversity to the underlying cash flow and ongoing upside opportunities. The Property also has a ZBA application for an 11 storey, 147,466 sq. ft. residential development that would provide 225 units to the surrounding neighborhood. 4280-4288 Kingston Road provides a rare opportunity to acquire a diversified open air retail plaza with future value add opportunities through both active management, leasing & long term development upside. The Property is being offered at a 5.50% capitalization rate on in-place income.
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$9,788,888
List price