Chatham, 12-plex in construction with commercial tenant

Kirill9395

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Aug 16, 2016
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Hi all,

I am selling a 3 story building (basement and 2 above ground floors) in downtown Chatham. Lower level is occupied by a long term tenant - medical clinic, main and upper floors are vacant. There is a building permit for 12 units (6 on each vacant floor) in place with a municipal grant and zero interest loan for construction. Municipality will agree to condo conversion after construction. Projected cap rate after construction and leases in is 10%+.

Looking to sell at this stage (asking $2.1M), or can do one level turnkey($2.3M).

Feel free to email me at kperelyg@gmail.com if interested.
 

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