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324 Terminal Ave Nanaimo, British Columbia V9R 5C8

7928 sqft

$880,000

Over $300,000 in recent renovations: High end office building renovations ready for your buyer with built in lease income. Built for one of Nanaimo top web companies, 324 Terminal Ave boasts 7,928 sq ft (6,747 leasable) with 3 separate office spaces for maximum flexibility. 2 floors (2nd and 3rd) are fully leased at average $12 sq ft + operating costs with the 1st floor still available for lease or for your new buyers to move right into. Over $300,000 in renovations were done for the previous tenant and include full wiring (previous tenant was a web/software company) advanced security system (including camera monitoring) brand new H VAC systems (heat and cooling pumps on all floors each independent) 3 separate completely renovated spaces. This property supports rent of over $80,000+ triple net using a potential average of $12 per sq ft. Do the cap rate calculations on this property and you will see this is one of the best investment properties available in Nanaimo. Additional revenue available from billboard rental to increase value to purchaser even further. Contact Carly Carey for more details and to arrange a showing. (id:33633)

Property Details

MLS® Number 468589
Property Type Other
Neigbourhood Z4 Old City

Building

Fireplace Present No
Size Interior 7928 Sqft

Land

Acreage No
Size Irregular 3020
Size Total 3020 Sqft
Size Total Text 3020 Sqft

https://www.realtor.ca/real-estate/21828548/324-terminal-ave-nanaimo-z4-old-city

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