12,119 ft²Retail / LandContactSale
12,119 ft²
Retail / Land
Sale
Christian Petrenko
NAI Commercial BC
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FOR SALE | Income Producing Property with Future Development Potential • Excellent Cash-Flow • Long-Term National Tenant • Lease Secured by AAA Corporate Covenants • 12,119 SF Free-Standing A-Class Building • 72,309 SF Corner Site (1.66 Acres) • Future Development Potential
The Property
Available Space12,119 ft²
Net Operating Income$636,083
Property UseInvestment property
SourceDirect
Corner Lot
The Lot
To acquire a 12,119 SF free-standing A-Class building on a 1.66 acre corner property in Kelowna, British Columbia. Superb cash-flow for investors with long-term lease secured by AAA corporate covenants. The Covenantors are Rexall/Pharma Plus Pharmacies (BC) Ltd., McKesson Corporation and Dollarama L.P. The current Tenant is Dollarama. The property is located at the high exposure intersection of Highway 33 and Hollywood Road in Rutland. Kelowna is the 7th largest city in British Columbia. The 12,119 SF single level high quality free-standing retail building was constructed in 2010. The building accounts for 17% of the total site area. Drive-thru not currently being used by tenant. Lease in place until August 31, 2030. There are 2 x 5 year tenant renewal options at the minimum of the previous lease rate of $636,082.68 per annum. The operating tenant is Dollarama. The Covenantors are Rexall/ Pharma Plus Pharmacies (BC) Ltd., McKesson Corporation and Dollarama L.P. In 2016, McKesson Corporation acquired Rexall Health from Katz Group. McKesson is ranked #9 on the Fortune 500.
Property TypeRetail / Land
Building Size12,119 ft²
Lot Size72,309 ft²
Corner Lot
Up to $500K for British Columbia businesses
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