99 Padmore Avenue E, Penticton, BC - Fully Tenanted Investment Property in Penticton

Fully Tenanted Investment Property in Penticton

99 Padmore Avenue E, Penticton, BC, V2A 7H7

Price:
$3,425,000

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%)

99 Padmore Avenue East, Penticton, BC, Canada

Additional Information

Municipal Address 99 Padmore Avenue E, Penticton, BC, V2A 7H7
Legal Description LOT A DISTRICT LOT 202 SIMILKAMEEN DIVISION YALE DISTRICT PLAN KAP81818
PID 026-790-947
Location Details 99 Padmore Avenue is located on the corner of Ellis Street and Padmore Avenue. Just 5 minutes to downtown Penticton, this property is well situated to grocers, shopping, restaurants, and professional services. It is also just 5 minutes to Okanagan Lake Beach!
Land Area 0.138 acres (6,011 SF)
Zoning C5 Urban Centre Commercial
Future Land Use
(OCP)
Urban Residential

Listing Agents

Jeff Hudson PREC - Principal / Founder at HM Commercial Realty

Jeff Hudson

Marshall McAnerney PREC - Principal / Founder at HM Commercial Realty

Marshall McAnerney

Request More Info

If you would like more information about this listing or to request a viewing, please fill out the form below. You can also reach us at 250.712.3130 or by email info@hmcommercial.com.