Area: British Columbia
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This well-maintained commercial building offers an exceptional opportunity for investors seeking passive, long-term returns. Located in the heart of downtown Penticton, the property Comprises two fully leased units, both occupied by established businesses under secure, long-term triple-net leases. Recent tenant improvements and significant landlord upgrades, totaling approximately $100,000, enhance the property’s value and appeal. With minimal management required and no near future risk of vacancies, this asset is ideal for those looking to either start or expand their commercial real estate portfolio. Both leases include built-in rent escalations, providing a reliable income stream that keeps pace with market trends. Additionally, the city of Penticton continues to make strategic investments in its downtown core, further enhancing the area's desirability and long-term growth potential. Don’t miss this outstanding opportunity to secure a prime commercial property with solid returns and minimal risk. The property offers a capitalization rate of 5.9%, based on the current income and list price. (id:44056)

Property Details

Full Address:
444 & 446 Main Street, Penticton, British Columbia
Price:
$ 700,000
MLS Number:
10337444
List Date:
March 4th, 2025
Year Built:
1930
Taxes:
$ 7,286

Interior Features

Building Features

Roof:
Tar & gravel, Unknown
Zoning:
Commercial
Exterior:
Concrete Block
Garage Spaces:
3
Ownership Type:
Freehold
Taxes:
$ 7,286

Floors

Finished Area:
2408 sq.ft.

Land

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Listing Agent(s)

Listing: John Green
Chamberlain Property Group
Co-Listing: Natasha Badger
Chamberlain Property Group

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