Property Description
HM Commercial Realty is pleased to present a fully tenanted 11,786 SF building in the heart of the City of Penticton.
HIGHLIGHTS
- Fully leased income producing property with Grant Thornton as anchor tenant
- Rent escalations provide rising income
- Corner location in Downtown core with alley access
- Walkable to restaurants, stores and Lake Okanagan
- Low operating costs make this an attractive choice for tenants
- Future upside potential through redevelopment and densification
- C5 Zoning offers Max FAR of 6.0 and height up to 36 metres (10-12 storeys)
- Price reflects $284/sf of GLA
- Non-Disclosure agreement required to obtain rent roll
- Title to Property held by a bare trust (purchase of these shares could save Buyer $80,750 in PTT)
PRICE: $3,425,000 (5.5% Cap Rate, increasing to 5.8%)
