HM Commercial Group is pleased to present this valuable opportunity to invest in an income-producing government tenanted building on First Nations land in Kamloops.
599 Powow Trail is situated on Tk‘emlúpsemc lease land at the corner of Powwow Trail and Shuswap Road with visibility from the Yellowhead Highway.
The building offers 6,995 SF of leasable area on 1.02 acres. The current sub-sub tenant, Her Majesty the Queen (Government of Canada/RCMP), is secured on a 10 year term with two 5 year renewals, providing security in investment.
The sub-sub tenant pays rent in the sum of $180,000 per year ($15,000 per month) plus operating and management costs of $10,500 per month. (6.4% Yield)
The property is secured with a 49 year Land Lease with Kamloops Indian Band (KIB)/Kamloops Indian Band Development Corp (KIBDC), expiring Nov 30, 2065. The Annual Lease is $36,600 (bi-annual payments of $18,300).