- What CCR Investments is looking to offload 247 Simcoe Street North
- Why The property is 100% leased
- What next Avison Young has the assignment
A medical office building east of Toronto is on the block for $7.3m.
Avison Young has the assignment for 247 Simcoe Street North in Oshawa on behalf of CCR Investments. The valuation for the 16,000 sq ft building is $451/sq ft.
The marketing campaign is targeting investors and medical owner-occupiers. In addition to leases, the property also generates income from on-site paid parking.
247 Simcoe Street North was completed in 1972. It’s fully occupied by tenants including Oshawa Health Centre Pharmacy, Oshawa Diagnostic & Vascular Imaging and Canada Vein Clinics. A 4,600 sq ft clinic space on the ground floor will be available as of April. There are 20 surface parking spaces and 36 underground parking spaces.
Significant capital investments have been made since 2019, including a new energy efficient PVC roof, a new parking payment system and the modernization of the elevator systems. There is an assumable mortgage.
At the intersection of Adelaide Avenue East and Simcoe Street North, over 40,000 vehicles pass the property each day. The building is adjacent to Lakeridge Health Hospital and is within 4 km of Highway 401 and Oshawa Station, which is serviced by GO and VIA Rail.
Oshawa is at the eastern edge of the Greater Toronto Area and is the largest municipality in Durham Region. The city is 50 km from downtown Toronto.
