559 Okanagan Av E - Manufacturing FOR SALE


Penticton, BC V2A 3K4
$4,000,000 CAD
250-712-3130
559 Okanagan Av E, Penticton, BC for Sale
$4,000,000 CAD
Manufacturing - FOR SALE
1/8
null | 5.2% Cap Rate

559 Okanagan Av E
Penticton, BC V2A 3K4


HIGHLIGHTS

  • 0.62 acre corner site with secure fenced yard.
  • 24 on-site parking spaces along Okanagan Avenue and Dartmouth Road.
  • Building has been well maintained and updated.

OVERVIEW

Excellent income opportunity with this fully leased industrial investment property. Property is leased to a long-term secure tenant, Slimline Manufacturing, who has been in business since 1950 and has resided in this location for 34 years. Current 10 year lease term runs until May 29, 2028 with 2 renewal options of 5 years remaining. Cap rate on current rents is approx. 5.20% with future potential to earn a mid-6% cap. Same property owner since 1990, and the building has been well maintained and updated. 0.62 acre corner site with secure fenced yard and 1 below grade loading dock. 17,442 SF building comprised of 15,684 SF main floor warehouse and 1,758 SF 2nd floor office, large staff room, and washrooms. 24 on-site parking spaces along Okanagan Avenue and Dartmouth Road. Property is zoned M1 General Industrial. Located in the main industrial area of Penticton, at the corner of Dartmouth Rd and Okanagan Ave. The property is close to Canadian Tire, Home Hardware, Walmart & Safeway Grocers. The property is also down the street from Penticton Regional Hospital and the proposed 10+ acre multi-use development at 1704 Government Street, which will create 1,500 residential homes, plus office and retail space.

FOR SALE DETAILS

PRICE

$4,000,000 CAD

PRICE/SF

$229 CAD /SF

CAP RATE

5.2%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.11

LAND SF

48,220

ZONING

M1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Lindsey TermulHM Commercial GroupMore Info
250-712-3130

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Lindsey TermulHM Commercial GroupMore Info
250-712-3130

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