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 R ETAIL V ACANT / USER P ACIFIC MALL F37 - 4300 Steeles Ave E Markham, Ontario L3R0Y5 Offices Nationwide www.marcusmillichap.com 20 Queen Street W, Suite 2300 Toronto, Ontario M5H 3R3 Tel: (416) 585 -4646 Fax: (416) 585-4645 Listed by: ANTHONY MARTINO Tel: 416-585-4684 Fax: (416) 585-4645 License: 4738588 [email protected] www.marcusmillichap.com/AnthonyMartino

Transcript of 4300 Steeles Ave E (Executive Summary - Aug.5.2015)

Page 1: 4300 Steeles Ave E (Executive Summary - Aug.5.2015)

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

Page 2: 4300 Steeles Ave E (Executive Summary - Aug.5.2015)

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