231 Millway Avenue #7, 8 , 23,Vaughan (Concord), ON L4K3W7
Vaughan (Concord), ON L4K3W7
Description
Exceptional owner-user and investment opportunity in one of Vaughan's most dynamic employment and mixed-use corridors. Offering consists of three legally separate industrial condominium units totaling approximately 18,193 sq. ft., currently operating as one seamless facility with no demising walls, providing the functionality of a single large industrial building while preserving the flexibility of three legal units. Approximately 20% finished office/showroom space with mezzanine, 20' clear height, full sprinkler system, 1 truck-level loading door, 2 drive-in shipping doors, and six industrial walk-in freezers, ideal for food processing, cold storage, distribution, manufacturing and specialty operations.Two separately leased spaces currently generate $3,600/month each ($7,200/month total), providing modest interim holding income while occupying or planning future use. Ownership has invested approximately $50,000 in engineering fees to date and holds open permits for a bathroom upgrade and new mezzanine staircase (est. $25,000 to complete) - a head start on value-add work already underway.The broader complex has received approval for Prestige Mixed-Use II designation under the newly-approved Vaughan Official Plan, expanding permitted commercial, retail and office uses. A separate planning application affecting the wider complex is expected before the City; a favourable outcome could enhance long-term value, though any such potential is speculative, would require assembly of the broader 22-unit condominium (of which the subject comprises 3 units), and remains subject to further approvals and purchaser due diligence. Prominent corner exposure on Millway Avenue, minutes to Highways 400, 407, 7 and the Vaughan Metropolitan Centre subway. An outstanding opportunity for owner-users, developers and investors seeking a premium industrial asset with holding income and long-term upside in one of Vaughan's fastest-growing corridors. (id:13843)
Details
| MLS # | N13749096 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 57 |
| Listing Provided By | KELLER WILLIAMS ADVANTAGE REALTY | JESSICA ZAVATTIN |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 18,193 |
| Zoning | Prestige Mixed-Use II |
Interior
| Cooling | Fully air conditioned |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Furniture |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Irregular lot size |
|---|
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 50011 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Vaughan (Concord) |
| Postal Code | L4K3W7 |
| Listing VS Median (in L4K3W7) | |
Price: $9,888,888 low | high Med: $4,945,944 sqft: 18,193 low | high Med: 9,537 $ / sqft: $544 low | high Med: $273 On site: 57 low | high Med: 83.5 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Vaughan (Concord) |
| Postal Code | L4K3W7 |
| Listing VS Median (in L4K3W7) | |
Price: $9,888,888 low | high Med: $4,945,944 sqft: 18,193 low | high Med: 9,537 $ / sqft: $544 low | high Med: $273 On site: 57 low | high Med: 83.5 | |