Offered at a 6.6% CAP Rate. Turnkey three-unit commercial investment in downtown Picton rented to government and institutional tenants that have been in place since 1993. Long-term leases in place with automatic renewals at market rent. 12,392 sq. ft. building on 0.835 acres with 55 on-site paved parking spaces and additional municipal lots and free parking steps away, and green space at the back of the property. The site is zoned CG-6 with full municipal services. The building, originally built in 1970 and fully renovated in 1993, features concrete block construction, an acrylic stucco exterior, and a TPO flat roof, which was replaced in 2020. Separately metered units with 3-phase 400-amp service, 5 rooftop HVAC units, a fire alarm system, and an elevator (tenant-maintained). Unit 1: 6,596 sq. ft. completely renovated in 2024 on two floors, Unit 2: 4,967 sq. ft., Unit 3: 829 sq. ft. The rent is calculated on 11,688 sq. ft. of net inside floor space. No easements or rights-of-way. The building is located 1 block from the center of Main Street, Picton.
Address
67 King Street
List Price
$2,299,000
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Office
Transaction Type
Sale
Area
Prince Edward County
Sub-Area
Picton Ward
Lot Size Source
MPAC
Lot Depth
269.49
Lot Shape
Irregular
Lot Type
Lot
Lot Size Units
Feet
Lot Width
77.88
Parcel Number
550610172
Total Building Area
12392
Occupant Type
Tenant
Cross Street
Centre Street
Approx. Age
51 - 99 Years
MLS® Number
X13532334
Listing Brokerage
Gordons Real Estate Brokerage Ltd.
Postal Code
K0K 2T0
Parking Spaces
55
Tax Amount
$31,365.20
Tax Year
2025
Standard Status
Active
Board Or Association
Central Lakes Association of REALTORS
Heat Type
Gas Forced Air Open
Cooling Features
Yes
Garage Type
Reserved/Assignd
Tax Legal Description
LT 308-309 PL 24 PICTON; PT LT 307, 310-312, 318 PL 24 PICTON PT 1-4 47R244; PRINCE EDWARD
Security Features
Yes
Login To View 10 Additional Details On 67 King Street
Get instant access to more information with a free account.
Already have an account? Login
