554 Leon Av - Office FOR SALE


Kelowna, BC V1Y 6J6
$12,250,000 CAD
236-420-3558
554 Leon Av, Kelowna, BC for Sale
$12,250,000 CAD
Office - FOR SALE
1/2
null | 5.59% Cap Rate

554 Leon Av
Kelowna, BC V1Y 6J6


HIGHLIGHTS

  • Strong tenant mix and income stream
  • Stratified building with value add opportunities
  • Assumable mortgage at below market rates
  • High profile downtown location

OVERVIEW

Opportunity to acquire Upper Avenue, a Class A, five storey office building in Downtown Kelowna. This incredibly well positioned asset features over 30,000 sqft of rentable area with an enclosed underground parkade and rooftop patio amenity. Every unit has been renovated with modern finishes and green building technologies. Additionally, The building features a rooftop patio, communal meeting room and kitchen, with bike storage on every floor. A total of 39 parking stalls. The property features a base rental income of approximately $685,000 (Stabilized NOI 2025), a strong tenant mix, high visibility from Highway 97, and has walkable access to numerous amenities. Favourable assumable mortgage rates make for an attractive long term hold with redevelopment potential within the 2040 OCP future land use (UC).

FOR SALE DETAILS

PRICE

$12,250,000 CAD

PRICE/SF

$391 CAD /SF

CAP RATE

5.59%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

C7

APN/PARCEL ID

030-050-073,030-050-081

ASK ABOUT THIS PROPERTY

Jeff BrownWilliam Wright CommercialMore Info
236-420-3558

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Jeff BrownWilliam Wright CommercialMore Info
236-420-3558

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.