3301 Coldstream Avenue, Vernon, British Columbia, V1T 1Y1

MLS® # 10371807

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Commercial For Sale In Vernon, British Columbia

$1,890,000

None Beds

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3301 Coldstream Avenue, Vernon, British Columbia, V1T 1Y1

$1,890,000

Property Information:

Positioned on a high-exposure corner in downtown Vernon’s city center, 3301 Coldstream Avenue offers an excellent mix of stable income, tenant diversity, and long-term upside. With total gross rents of $108,688, leases fully net to the landlord, and an implied cap rate at 5.75% this two-story concrete-block building totals approximately 8,804 sq ft and is configured with four main-floor commercial units and three second-floor office areas. The property has seen extensive upgrades in recent years—including interior and exterior paint, flooring, new drywall ceilings, spray foam insulation in the attic, updated electrical and HVAC (3 new units on the roof), roll shutters, improved signage, window film, awnings, and a security/camera system. The building boasts 600-amp 3-phase power and every unit has their own hydro meter. Most tenancies operate on a net basis with annual rent escalations. With CMUC mixed-use zoning allowing a broad range of commercial opportunities this is a compelling downtown Vernon investment for buyers seeking cash flow today and future redevelopment potential. (id:27)

Building Features:

Style: Business
Building Type: Other
Exterior Finish: Stucco
Floor Space: 8804 sqft
Roof Material: Roof Material
Roof Style: Unknown
Heating Type:
Cooling Type: Central air conditioning

Property Features:

OwnershipType: Freehold
Property Type: Business
Access Type: Easy access, Highway access
Amenities Nearby: Public Transit, Recreation, Schools, Shopping
Built in: 1975
Community Features: High Traffic Area
Features: Level lot, Corner Site
Floor Space (approx): 8804 Square Feet
Landscape Features:
Lot Frontage: 100 Feet
Utility Type: Water - Available, Natural Gas - Available, Telephone - Available, Hydro - Available, Cable - Available, Sewer - Available
Sewer: Municipal sewage system
Parking Type: Street