Commercial Building In Oliver- 8% return For Sale

Description

Property type: income-producing commercial property

Location: Highway 97, Oliver, British Columbia

Current status: fully tenanted

Property use: office and retail

Property

Total building area: approximately 8,000 sq. ft.

Leasable area: approximately 6,800 sq. ft.

Highway frontage: Highway 97

Visibility: stated as high

Property condition: well maintained

Tenancy

Anchor tenants: 3

Anchor tenant occupancy: more than 80% of leasable space

Smaller office units: 6

Tenant mix: office, retail, professional and service-based users

Occupancy: full

Long-term tenants: established

Rental income concentration: majority generated by anchor tenants

Financial information

Capitalization rate: approximately 8%

Income profile: established rental income

Cash flow: stated as stable

Building improvements

Building upgrades: completed over the past 20 years

Infrastructure quality: stated as strong

Maintenance requirements: stated as reduced by prior upgrades

Investment profile

Asset type: multi-tenant commercial investment property

Vacancy risk: reduced by current full occupancy and anchor tenants

Market: South Okanagan

Investment focus: income generation and long-term ownership

Potential buyers

• Commercial real estate investors
• Income property investors
• Portfolio owners
• Private investment groups