PRICE REDUCED | CAP RATE 7.45%
The Vendor has exclusively retained Form Real Estate Advisors Inc. (the “Agent”) to facilitate the sale of its 100% freehold interest in 33 South Shore Road (the “Subject Property”).
The Subject Property is a single-tenant, triple-net investment opportunity located in the Town of Lake Cowichan, located approximately 30 KM west of the Trans Canada Highway and the City of Duncan. Situated on a large 39,400 square foot lot improved with a commercial building leased to FHC Enterprises Ltd., (corporate covenant of Fields, a regional grocery and household goods chain) who recently renewed their lease for a further five (5) years, expiring August 2022.
Fields is a strong regional covenant providing stable and consistent cash flow with significant future redevelopment potential, by way of waterfront residential development. Located in the central portion of the primary commercial development strip, the surrounding area is a mix of residential and commercial uses. The subject Property benefits from having five separate legal titles which allows for greater flexibility for development.
Available Space11,800 ft²
Net Operating Income$70800.0
Building Size11,800 ft²
ZoningC-3 (Lake Front River Front Commercial)