Property has redevelopment potential to convert into 4-5 retail CRUs - potential 8.6% cap rate with lease rates stabilized at $20 net Owner will vacate the premises for a new owner or leaseback Significant renovations have been completed to the property in 2014/15, with costs previously provided by the property owner, including a new roof (cost $130,000.00), exterior façade and signage ($220,000.00), resurfacing the parking area ($27,000.00), new overhead doors ($24,000.00). In addition, approximately $130,000.00 in upgrades has been completed to the flex/warehouse bay (including new lighting, electrical, and concrete work) and significant upgrades have been completed to the interior of Buffet Royale. Parking ratio is 1.58 per 1,000 Sq.Ft. Building is concrete block construction on a concrete grade beam foundation on concrete piles, and a concrete slab. Siding is painted concrete block. Roof is flat deck with SBS membrane. The building was constructed in 1975.