122 NAVY ROAD

Inuvik X0E 0T0

Excellent investment opportunity: 3072 sf warehouse/shop with 2234 sf leased out to the federal government of Canada and the balance available, located on a large 1.5- acre corner lot in the industrial park. The lease runs until March 31, 2028, and discussions have already begun on an anticipated 5-year renewal with 2 one-year options to extend further. Lease details and income statements will be made available to qualified purchasers upon entering an NDA. There is also a vacant second small shop building with a caretaker's suite in the rear, which will require substantial renovations before becoming rentable again. The deep lot offers lots of potential for further development. The property is priced to provide an attractive cap rate based solely on the current lease. (id:2493)