ASKING PRICE: C$2,600,000 (Negotiable)

OPPORTUNITY: A commercial property with a corporate lease signed with Energie Cardio till 2026 + 10 years renewal options - on the most densely populated borough of  Montreal.

ADDRESS: 4535 Papineau Avenue (Between Mont Royal Avenue East and Saint-Joseph Boulevard , Montreal, Quebec. (Google Map) 

INVESTMENT HIGHLIGHT: In the heart of the Plateau-Mont-Royal borough. Features loading docks and on-site parking. Benefits from great traffic flow and visibility, because of its proximity to upscale retail shops and residential apartments. Neighbouring tenants include Yellow Shoes, RBC, Café Dépôt, McDonalds, SAQ, and Dollarama. Well-serviced by public transit. 

MUNICIPAL ASSESSMENT: $2,300,000

LOT SIZE: 10 900 sf 

BUILDING SIZE: 9987 sf  (One-Storey)

TENANT WEBSITE : https://www.energiecardio.com/en  (50+gyms in Quebec) 

LEASE TERM: From 15 Jan 2014 till 15 Jan 2026 with 2 x 5-years renewal options  

RENT:

$135,0000 (Year 1-4)
$165,000 (Year 5-12),
$205,000 (Year 13-17) - First Renewal Option
$225,000 (Year 18-23) - Second renewal Option

MUNICIPAL TAX: $83,506 (100% Recoverable from tenant)

SCHOOL TAX: $4,085 (100% Recoverable from tenant)

FINANCING: Up to 75% 

CAP RATE: 5.19%

ROI: Around 10% 

ZONING: C4C (commercial) and H (residential) 41.01’ Potential of development up to 12.5m height, from 2 to 3 storeys on 100% of the land.

NOTE:  We do not assume any responsibility in this matter and the recipient of this summary is cautioned that other and further studies may be warranted