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575 McNeely Avenue, Carleton Place, ON
575 McNeely Avenue
** Firm **
JLL’s National Retail Investment Group and Koble Commercial Real Estate and Brokerage are pleased to offer for sale a 100% freehold interest in 575 McNeely Avenue (the “Property”), a freestanding Beer Store with additional development land located in Carleton Place, Ontario. Comprised of 6,663 SF, the Property is fully leased to The Beer Store which has 16.5 years remaining on its lease, providing the investor with secure cash flow. The Property is situated on two parcels totaling 4.0 acres of land, with the owner willing to consider severing the excess land separate from The Beer Store. With both parcels purchased together, existing planning legislation suggests additional commercial density can be added to the site, providing the investor with significant value-add opportunities. The Property is offered for sale as Beer Store only (subject to severance) or with development land included.
The Property is situated in Carleton Place’s most dominant retail node which draws consumers from across the region and is easily accessible being less than 250 metres away from the Trans-Canada Highway. 575 McNeely Avenue was recently constructed and is well-designed with ample parking, along with premium frontage and visibility along McNeely Avenue. This retail node is close to densely populated residential neighbourhoods with over 13,300 residents living within a 3 km radius of the site.
- Carleton Place is a commuter town in Eastern Ontario in Lanark County, approximately a 35 minute drive from Downtown Ottawa and 4.5 hours from Toronto. Located directly on Highway 7 on the Trans-Canada Highway, the County expects the town to double its population over the next 20 years.
- The Property capitalizes from premium frontage and visibility along McNeely Avenue, across the street from Home Depot and adjacent to Carleton Place Colonnade.
- The Beer Store was established in 1927 and operates over 440 retail stores while serving just under 18,000 licensed customers.
- The Beer Store was recently constructed in 2019 with superior asset quality which at the time signed a brand new 20-year lease.