161 Bridge St W, Belleville, K8P 1K2

Listing Overview

Description

Royal LePage Commercial is pleased to offer 161 Bridge St W, Belleville for sale. Anchored by Giant Tiger & Dollarama and supported by a variety of other national & local businesses, Bridge & Sidney Square is a 108,509 SF GLA destination retail plaza. Situated on 7.2 acres, the plaza is 76% leased to a diverse mix of tenants offering a destination for convenience & service-oriented needs. Other well-known tenants include Mucho Burrito, PharmaChoice, Belleville Quinte West Community Health Centre, Surplus Furniture & Mattress Warehouse, and a freestanding Tim Hortons w/ drive-thru. The prop. is a dominant plaza in S. Belleville, well located in an established residential area, adjacent to single-family homes & apts. It offers dependable in-place income w/ contractual rent growth from established tenants + value-add potential by leasing vacant units & exploring the possibility of an additional retail pad for more revenue. HIGHLIGHTS: Strong Lease Profile 108,509 SF of leasable area is 76% occupied by national & regional tenants w/ avg. tenure of 10+ yrs. WALE is 5.6 yrs. Dominant Trade Area Largest plaza in the region, w/ complementary mix of essential retailers & health svc providers. Giant Tiger (anchor) occupies 25% of plaza, tenant since 2005, recently renewed long-term lease. Rent Growth Potential Contractual rent steps, fixed increases, & higher market rents may lead to strong rent growth over 5 yrs (proj. 20% increase). Limited lease rollover until 2027 ensures cash flow stability. Value-Add Potential Zoning allows wide range of comm. uses. Vacant units can be demised into smaller footprints to drive leasing activity & higher rents. Assumable Debt + Vendor Take-Back 2nd mortgage avail. to increase leverage & investor returns.

108 days

On Market

Investment

Property Type

$460,760 / Year

Est. Taxes

Retail

Style

-

Business Type

-

Franchise