Amazing investment opportunity downtown Penticton. Fully leased office building with 3 Tenants with escalating leases in the heart of downtown. With 18,750 sqft of first-class office space this building sits on a 0.505 acre of land on Penticton’s colourful Front Street just one block to Okanagan Lake parks, beaches and events. Front Street is the premiere commercial street in the downtown area. There is a popular walking trail running along Penticton Creek right behind the building with a bridge that crosses to Ellis Street. The parking lot has access from both Front Street and from the alley that accesses Backstreet Boulevard. This building has high quality lease hold improvements throughout. RBC Dominion Lending has occupied the building since 1994 with 5,081 sqft of space leased; the City of Penticton leases the entire second floor area at 8,385 sqft and has done extensive lease hold improvements; McLeod-Schneiderat Lawyers leasing 5,285 sqft of space on the first floor and has also just completed extensive lease hold improvements. All leases are full triple-net leases with renewals. The building has 24 dedicated parking spaces and bike lock-up. The property is zoned C5 and offers many of long-term possibilities as Penticton’s best downtown zoning. (id:4069)
Address
100 FRONT Street
List Price
$5,500,000
Property Type
Office
Type of Dwelling
Office
Transaction Type
Sale
Area
British Columbia
Sub-Area
Penticton
Floor Area
18,934 Sq. Ft.
Lot Size
0.51 Sq. Ft.
Year Built
1995
MLS® Number
10376277
Listing Brokerage
RE/MAX Penticton Realty
Postal Code
V2A1H3
Site Influences
Recreation, Shopping
Features
Level lot
