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:4069)
Address
260 Okanagan Avenue E
List Price
$3,795,000
Property Type
Other
Type of Dwelling
Residential Commercial Mix
Area
British Columbia
Sub-Area
Penticton
Floor Area
33,784 Sq. Ft.
Lot Size
0.68 Sq. Ft.
Year Built
1960
MLS® Number
10340022
Listing Brokerage
Engel & Volkers South Okanagan
| Chamberlain Property Group
Postal Code
V2A3J7
Features
Elevator
