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Commercial Building
- 179 3rd Ave | Timmins, ON
Property Description
179 3rd ave, Timmins, Ontario, comprises just under 35,000 square feet of commercial space. The conveniently located property at the corner of 3rd Avenue and Cedar St holds a federal government lease through January 2025, with an additional five-year option to extend the lease. Fun Fact: Our crown corporation tenant has spent upwards of 1.6 million dollars in renovations since their lease term began. Making the space perfect for their needs for many years to come.
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Property Overview
- Total Units : 1
- Total SQ : 34,767
- Occupancy Rates : 100%
Market Analysis
The City of Timmins is located in Northeastern Ontario, on the Mattagami River. Timmins is 290 kilometres north of the City of Sudbury and approximately 750 kilometres east of Thunder Bay. Major routes include Hwy 101, Hwy 144, and Hwy 655.
Timmins has a population of approximately 41,788. Timmins has a largely francophone community as approximately half the population is bilingual. Timmins features a variety of activities such as Kettle Lakes Provincial Park, Kamiskotia Snow Resort, Gillies Lake, and Timmins Museum National Exhibition Centre. Timmins has regular bus service and limited passenger train service, together with a modern airport offering service throughout Northeastern Ontario
Timmins’s largest industries include mining, quarrying, oil and gas extraction; health care and social assistance, and retail trade. Some of the largest employers are Goldcorp Porcupine Gold Mines, Tahoe Resources Canada, Dumas Mining Contracting LTD, Extendicare Timmins, and The City of Timmins.
Neighbourhood/Location
The subject is located within an employment node area within Timmins, ON. The subject is located at the southwest corner of 3rd Avenue and Cedar Street South, just south of ON-101. The immediate area is classified by a variety of office and retail properties. Immediately to the north and south of the property are single-dwelling residential properties. The subject benefits from its proximity to the major roadways. This is an ideal location for a crown corporation tenant.
Property Management
Virtus Asset Management
Property Location
179 3rd Ave | Timmins, ON
Virtus Diversified REIT offers a unique investment strategy focused on real estate diversification, cash flow, and high quality tenants.
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