260 King Street W, Brockville, ON K6V 3S1, Brockville, ON
Bath 3
21000.0 sqft
This offering presents an opportunity to acquire a downtown Brockville retail investment on King Street West, comprising approximately 21,000 sq. ft. of main floor retail space together with approximately 11,000 sq. ft. of second-floor mezzanine area. The property is fully leased to a single tenant under a net, carefree lease extending to April 2028. Based on the 2028 rental rate, the current asking price reflects an approximate 5.68% market capitalization rate. The tenant has successfully operated from this location for approximately five years and holds one (1) additional five (5) year renewal option at fair market rent, exercisable with a minimum of six (6) months' prior written notice. The lease also includes a valuable redevelopment clause, permitting the Landlord to terminate the tenancy upon 120 days' written notice to recapture vacant possession for reconstruction, redevelopment, demolition, or a change of use. This provides investors with stable in-place income while preserving a contractual pathway to future redevelopment and highest-and-best-use opportunities. The sprinklered building features ceiling heights of approximately 20 feet on the western portion of the main floor, with approximately 10-foot clearance beneath the mezzanine. The property is improved with a commercial building originally constructed in 1972 as a Canadian Tire store. It was expanded in 1991 and converted to furniture retail use in 1999. The current tenant operates one of a three-store thrift and consignment retail chain. Strategically located in Brockville's downtown core, the property is situated adjacent to Metro Grocery and Circle K, occupying a prominent corner location at King Street West and Gilmour Street, less than one block from the Brockville Arts Centre. The location benefits from excellent exposure, strong pedestrian activity, and convenient access to the surrounding commercial district. Serving a regional population extending well beyond its municipal boundaries
Property Highlights
For Sale
MLS NO.
X13577812
Type
Commercial
Sub Type
Commercial Retail
Bathrooms
3
Square Footage
21000.0 sqft
Complete Property Details
Property Type
Commercial
Sub Type
Commercial Retail
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
X13577812
Total Bathrooms
3
Security Features
Yes
Lot Width
192.0
Lot Size
1.18
Lot Size Units
Acres
Garage Type
Outside/Surface
Cooling
Yes
Heat Type
Gas Forced Air Open
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
260 King Street W, Brockville, ON K6V 3S1
City
Brockville
Neighbourhood
810 - Brockville
County / Region
Leeds and Grenville
Province / State
ON
Postal Code
K6V 3S1
Cross Street
King and Gilmour
Directions
Brockville Corner Fronting King St. West and Gilmour St adjacent Metro
This offering presents an opportunity to acquire a downtown Brockville retail investment on King Street West, comprising approximately 21,000 sq. ft. of main floor retail space together with approximately 11,000 sq. ft. of second-floor mezzanine area. The property is fully leased to a single tenant under a net, carefree lease extending to April 2028. Based on the 2028 rental rate, the current asking price reflects an approximate 5.68% market capitalization rate. The tenant has successfully operated from this location for approximately five years and holds one (1) additional five (5) year renewal option at fair market rent, exercisable with a minimum of six (6) months' prior written notice. The lease also includes a valuable redevelopment clause, permitting the Landlord to terminate the tenancy upon 120 days' written notice to recapture vacant possession for reconstruction, redevelopment, demolition, or a change of use. This provides investors with stable in-place income while preserving a contractual pathway to future redevelopment and highest-and-best-use opportunities. The sprinklered building features ceiling heights of approximately 20 feet on the western portion of the main floor, with approximately 10-foot clearance beneath the mezzanine. The property is improved with a commercial building originally constructed in 1972 as a Canadian Tire store. It was expanded in 1991 and converted to furniture retail use in 1999. The current tenant operates one of a three-store thrift and consignment retail chain. Strategically located in Brockville's downtown core, the property is situated adjacent to Metro Grocery and Circle K, occupying a prominent corner location at King Street West and Gilmour Street, less than one block from the Brockville Arts Centre. The location benefits from excellent exposure, strong pedestrian activity, and convenient access to the surrounding commercial district. Serving a regional population extending well beyond its municipal boundaries
