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$ 9,550,000
Est. payment | /mo
$ 9,550,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID X12793352
Annual Tax Amount $173,226
Tax Year 2025
Property Sub-Type Investment
Property Description
Prime opportunity to acquire a fully stabilized, 100% occupied, grocery-anchored plaza in the heart of Sault Ste. Marie. Pine Plaza is a well-established neighborhood retail Centre comprising approximately 42,455 sq. ft., anchored by a top-performing national grocery tenant with long-term lease options, providing exceptional income stability and consistent foot traffic. The plaza features a diverse tenant mix of retail, service, and food users, creating a strong daily-needs destination for the surrounding community. A favorable lease expiry profile with a Weighted Average Lease Term (WALT) of approximately 3.65 years. The 2023 renovation was more than facade; units 2, 3, 4, 5 new vanilla shells; units 2-8 all new rooftop HVACs. Strategically located on Pine Street, a major arterial corridor, the asset benefits from excellent visibility, accessibility, and strong surrounding residential density. Freehold ownership, established tenancy, and built-in upside through rental growth and future re-tenanting opportunities make this an ideal investment for both private and institutional buyers seeking a core-plus retail asset with resilient fundamentals.
Location
Province ON
County Algoma
Area Algoma
Zoning Commercial
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 438.05
Others
Security Features No
ParcelsYN No
Listed by CBRE LIMITED
Nearby Locations
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