4300 Steeles Ave E (Executive Summary - Aug.5.2015)
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Transcript of 4300 Steeles Ave E (Executive Summary - Aug.5.2015)
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OFFERING SUMMARY
Price $1,088,000
Down Payment (0%) $0
Loan Amount $1,088,000
Loan Type Seller
Interest Rate 0.000%
Gross Leasable Area (GLA) 1,329
Price per Square Foot (GLA) $818.66
Year Built 1997
Lot Size 0 x 0
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of © 2015 Marcus & Millichap
(Activity ID: W3010140 Property ID: 2019109)
E X C L U S I V E R E T A I L O F F E R I N G
INVESTMENT HIGHLIGHTS
Outfitted for Retail Operation
Suited for an End-User or Investor
1,500 Underground and Above Ground Parking Spaces
1,329 Gross SF 829 Net SF
450 Stores Located in Mall
Possibility of Future Expansion
Wide Frontage Approximately 22 Feet
RETAIL VACANT/USER
PACIFIC MALL F37 - 4300 Steeles Ave E Markham, Ontario L3R0Y5
Off i ces Na t io nw ide www .m arcusm i l l i chap .com 20 Queen S t ree t W , Su i te 2300
Toronto , Ontar io M 5H 3R3 • Te l : (416 ) 585 -464 6 F ax: (416 ) 585 -464 5
Listed by:
ANTHONY MARTINO Tel: 416-585-4684
Fax: (416) 585-4645 License: 4738588
[email protected] www.marcusmillichap.com/AnthonyMartino
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OPERATING DATA
Income Pro Forma
Base Rent
Occupied Space $48,000
Gross Potential Rent $48,000
Expense Reimbursements $25,594
Gross Potential Income $73,594
Effective Gross Income $73,594
Total Expenses $25,581
Net Operating Income $48,013
F 3 7 - 4 3 0 0 S T E E L E S A V E E • M A R K H A M , O N T A R I O L 3 R 0 Y 5
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services (Canada) Inc., Brokerage is a service mark of © 2015 Marcus & Millichap (Activity ID: W3010140 Property ID: 2019109)
INVESTMENT OVERVIEW
The subject property is located on the 2nd floor of "Pacific
Mall" an Asian inspired shopping centre in Markham,
Ontario. The unit is approximately 1329 sq ft gross, with a
net of 824 sq ft. Pacific Mall is located on the northeast side
of Steeles Avenue and Kennedy Road, on the site formerly
occupied by Cullen Country Barns. The two entrance roads
of the mall are Redlea Avenue and Clayton Drive.
Markham, a city in the Regional Municipality of York, lies
within the GTA of Southern Ontario. The city is the fourth-
largest community within the GTA.
The mall is an official Canadian Tourist Attraction allowing it
to be open 365 days per year. Pacific Mall is located is
located at the major intersection of Steeles Avenue &
Kennedy Road. It is served by both TTC & YRT buses. In
addition, it is located within walking distance from Milliken
Go Station.
The unit located on the second level is currently utilized for
retail, however other permitted uses include restaurant,
professional offices and medical. The corridors of the main
floor are named after streets in Hong Kong; this is where
the majority of shops are located, and any major events
take place. Visit www.pacificmalltoronto.com for further
information.
EXPENSES
Real Estate Taxes 12,739
Insurance 721
Maintenance Fees 12,121
Hydro 0
Total Expenses $25,581
Expenses per SF $19.25
20 Queen Street W Suite 2300
Toronto, Ontario M5H 3R3 Tel: (416) 585-4646
Fax: (416) 585-4645
www.marcusmillichap.com
MAJOR TENANTS
N/A