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$ 3,795,000
Est. payment /mo
New
260 Okanagan Avenue E Penticton, BC V2A3J7
33,784 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 33,784 sqft
Price per Sqft $112
Subdivision Industrial Area
MLS® Listing ID 10340022
Originating Board Association of Interior REALTORS®
Year Built 1960
Lot Size 0.680 Acres
Acres 29620.8
Property Sub-Type Freehold
Property Description
Presenting a prime investment opportunity with a mixed-use industrial building offering approximately 33,170 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. 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:24570)
Location
Province BC
Zoning Industrial
Rooms
Kitchen 0.0
Interior
Heating Other
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Roof Type Unknown
Total Parking Spaces 16
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Engel & Volkers South Okanagan