49 Cranfield Road
Toronto E03, ON, M4B 3H3
Community:O'Connor-Parkview
Asking Price
$4,499,000
Frontage
20.18 ft.
Lot Depth
411.89 ft.
Square Foot
57,813 ft.
Lot Area
1.33 Feet
Zoning
Commercial
49 Cranfield Road, Toronto E03, M4B 3H3
Property Description
Original Remarks
Rare 1.33 acre (57,813 SF) infill Employment Industrial land in O'Connor-Parkview. $4,499,000 priced at 5.38% going-in cap on projected stabilized NOI of $242,087 from two industrial outdoor storage (IOS) tenancies anchored by Atlas Polar Co. Ltd. (occupancy since 2021; term to June 30, 2027). Zoning E 1.0 (x229) permits IOS. Embedded value-add: Vendor commissioned architectural drawings (A & Associates, 2019-2020) for an 83,233 SF, 872-unit, 5-storey self-storage facility, plus draft amending by-law (Tribunal File PL171477, without prejudice). Also a strong industrial condo candidate evidenced by adjacent 45 Cranfield precedent.
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49 Cranfield Road
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