14,823 ft²Industrial$3,499,000Sale
14,823 ft²
Industrial
$3,499,000
Sale
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Opportunity to purchase an income producing fully leased industrial property in Summerland with potential to subdivide. Fully leased with 11 units. Total leasable area of 14,823 SF on 0.836 acres. Opportunity to capitalize on low industrial vacancy in Summerland with limited new product in recent years. Property offers stability with ideal sized industrial units to meet market demand. Upside potential through opportunity to subdivide (approvals in place). 11 individual tenants offer diversification, resulting in low building vacancy. New roof on lower building. Caretaker suite on site. NOI of $210,510 per annum with 6.0% Cap Rate on asking.
The Space
Asking Price$3,499,000
Available Space14,823 ft²
Property UseIndustrial
Taxes$21,449/yr
MLS® ID10352800
ZoningM2
Cap Rate6%
SourceDirect
The Building
Opportunity to purchase an income producing fully leased industrial property in Summerland with potential to subdivide. Fully leased with 11 units. Total leasable area of 14,823 SF on 0.836 acres. Opportunity to capitalize on low industrial vacancy in Summerland with limited new product in recent years. Property offers stability with ideal sized industrial units to meet market demand. Upside potential through opportunity to subdivide (approvals in place). 11 individual tenants offer diversification, resulting in low building vacancy. New roof on lower building. Caretaker suite on site. NOI of $210,510 per annum with 6.0% Cap Rate on asking.
Property TypeIndustrial
Building Size14,823 ft²
Lot Size0.84 AC
Up to $500K for British Columbia businesses
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