2469 Aviation Lane London, Ontario N5V 3Z9
$1,000,000
Located at the London International Airport. Excellent investment opportunity. Fully leased to three long term tenants. Building consists of 14,876 square feet on one acre and is in top condition throughout. Net operating income of $69,812.75 with a cap rate of 7%. increasing to $73,050.60 in 2025 with a cap rate of 7.3% with rent escalations. Property is on a land lease with the Greater London International Airport Authority having a term of forty years and expiring on March 14, 2059. Monthly payment is $651.95.The Airport Authority will usually grant the Buyer with a new forty year lease at the time of sale. Seller with provide secondary financing up to $200,000.00 at below market rates. Copy of current rent roll, operating expenses, land lease and site plan available upon request. (id:41806)
Property Details
| MLS® Number | 40353476 |
| Property Type | Other |
| Amenities Near By | Airport |
| Features | Paved Driveway, Country Residential |
| Parking Space Total | 35 |
| Sign Type | Signband |
Building
| Basement Type | None |
| Constructed Date | 1998 |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Fireplace Present | No |
| Flooring Type | Carpeted, Ceramic, Laminate |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air, Radiant Heat |
| Stories Total | 2 |
| Size Exterior | 14876.0000 |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Airport |
| Sewer | Municipal Sewage System |
| Size Depth | 398 Ft |
| Size Frontage | 113 Ft |
| Size Total Text | 1/2 - 1.99 Acres |
| Zoning Description | Gi1(4) |
https://www.realtor.ca/real-estate/25099686/2469-aviation-lane-london
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London and St. Thomas Association of REALTORS®
RE/MAX Centre City Realty Inc., Brokerage
December 30 2022 03:11:00
