About This Property
High-Profile Corner Investment Property. Exceptional opportunity to acquire a prominently positioned commercial building fronting both Okanagan Avenue and Camrose Street. This property has undergone extensive renovations over the past four years, with reported improvements totaling approximately $1.2 million. Offering 33,784 square feet of gross leasable area on a flat 0.68-acre parcel, this M1-zoned (Mixed Urban Centre Commercial) property accommodates a strong and diverse mix of commercial and light industrial tenants. The current tenant roster provides a stable and diversified income stream, effectively mitigating risk for an investor. Additional highlights include 18 on-site parking stalls, an elevator, and accessible washrooms, ensuring convenience and compliance for all occupants. A true armchair investment, this is a turnkey asset in a prime location with significant capital improvements already completed. (id:64973)
The $2,398,000 price tag equates to roughly $71 per square foot, a competitive rate for a well-renovated commercial property in Penticton's thriving downtown core. Given the diverse tenancy and extensive upgrades, this investment opportunity would likely appeal to experienced commercial real estate investors seeking a stable, income-generating asset in a prime urban location.
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