SOLD! 284 Main Street | Penticton, Main North
SOLD
CAP Rate 6.6% | Fully Leased | 4 Long Term Tenants
Built 1959 | Zoning C5 | Taxes $30,020 (2023)
SOLD
CAP Rate 6.6% | Fully Leased | 4 Long Term Tenants
Built 1959 | Zoning C5 | Taxes $30,020 (2023)
SOLD
CAP Rate 6.6% | Fully Leased | 4 Long Term Tenants
Built 1959 | Zoning C5 | Taxes $30,020 (2023)
Amazing investment opportunity in downtown Penticton. This hard-to-find investment is fully leased with 4 long term tenants with long term leases in place. All the leases are triple net leases. The exterior is done in a French colonial style and the building is 10,607 sq ft. Updates include a new roof and new mechanical systems in 2018, updated electrical as well as the ECORA space on the second floor was renovated along with the lab on the ground floor. City of Penticton completely renovated and upgraded their space when they moved in and is now home to Bylaw Enforcement. Located on the corner of Main St and Nanaimo Ave East the Blenz Coffee shop is a hub of activity and a destination, meeting point, and landmark of Downtown Main Street. Urge 3 Tattoo has exposure off of Nanaimo Ave E. The combined NOI for 2024 will be $198,894 Wwith a CAP rate of 6.6%