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2469 Aviation Lane London, Ontario N5V 3Z9

Central Air Conditioning Forced Air, Radiant Heat

$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:46638)

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
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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Listing Provided By

RE/MAX Centre City Realty Inc., Brokerage