LOADING

2229-2233 6th Avenue Castlegar, British Columbia V1N 2W1

No Heat

$1,039,999

INDUSTRIAL DEVELOPERS AND INVESTORS - Outstanding industrial investment opportunity includes two side-by-side industrial properties (2229 & 2233 6th Avenue) totaling .6334 acres in Castlegar, BC. National tenant with a recently signed lease occupies the 7,529 SF industrial building with 3 grade level loading bays and leases the 2 adjoining properties. Current CAP rate is 8.4 (at ask) but will increase every year with the negotiated escalation in rates through the term of the lease. Final year of the lease will see a CAP rate of 9. 5 for the year ending July 31, 2028. M 1 - Light Industrial zoning provides potential for further densification of the properties through redevelopment for almost 50,000 SF at max FAR and building heights up to 3 stories. The current lease will provide substantial cash flow and holding income until the properties are ready to be further redeveloped. (id:46227)

Property Details

MLS® Number 2479268
Property Type Other
Neigbourhood South Castlegar
Community Name South Castlegar

Building

Constructed Date 1975
Heating Type No Heat
Type Other

Land

Acreage No
Size Irregular 0.63
Size Total 0.63 Ac|under 1 Acre
Size Total Text 0.63 Ac|under 1 Acre
Zoning Type Unknown

https://www.realtor.ca/real-estate/27337727/2229-2233-6th-avenue-castlegar-south-castlegar

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