Presenting a prime investment opportunity with a mixed-use industrial building offering approximately 33,784 square feet of space on a .678-acre lot, ideally located at the corner of Okanagan and Camrose Avenue in Penticton BC, just a few blocks from Main Street. This versatile property is currently utilized for self-storage, space rentals, and warehouse purposes, providing multiple revenue streams under one roof. The current tenant, who has already invested over $1,174,000 in building improvements since 2021—including the installation of an elevator, upgraded electrical systems, fire suppression, accessible washrooms, and more—has expressed readiness to sign a long-term, 10-year triple net lease with an average cap rate of 6.75%. This setup offers a stable, hands-off income opportunity with minimal management responsibility, backed by a reliable, committed tenant. The proposed lease rate offers an attractive, competitive cap rate, making this property an excellent addition to any investment portfolio. (id:23770)
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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®).
