5101 25 Avenue, Vernon, British Columbia V1T1P5

$890,000
5,994
SqFt
List Price
$890,000
MLS® #
10177486
Status
ACTIVE
Type
Commercial
Subtype
Business
Living Area
5,994
Lot Size
0
Subdivision
Okanagan Landing

Property Description

Fabulous investment opportunity. Hands off and cash rich investment for at least 5 years, then great upside potential for lease extensions, new development or re-development. Very versatile 8100 sq ft building on .66 acres flat of flat land currently zoned I1 Industrial in a high traffic and developing area. Very versatile building with lots of life left in it. 5994 sq ft main level including; main rental / reception hall, commercial kitchen, 2 lounges, storage room, gaming area, washrooms and office. Approximately 2130 sq ft of basement with meeting room, washrooms and walk in cooler. Land is all flat with approx 34 parking stalls and even some serviced guest RV sites in the rear. The property is currently owned by the Vernon Fraternal Order of Eagles Home Society and they have just leased the property back to themselves for a 5 year term plus renewals. The lease is a pure triple net lease at $5,000 per month plus renewals with the tenant paying ALL expenses for a hassle and management free investment. At the full asking price the cap and ROI is a very healthy 6.7% and it would be hard to go wrong with commercial or development property is this growing and developing area. More photos, virtual tours, floor plans, aerial images, google maps, plot plans, and information at www.vernonrealestate.com Will be sold by sealed bids on April 15, 2019 (id:2579)

Additional Information

Ownership
Freehold
View
Mountain view
Subdivision
Okanagan Landing
Zoning
Light industrial
Country
Canada
Sewer
Municipal sewage system
Frontage Length
89 ft ,8 in
Roof
Conventional
Community Features
High Traffic Area
Heating
Baseboard heaters
Lot Size
0

Listing courtesy of RE/MAX Vernon.

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