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324 Terminal Ave Nanaimo, British Columbia V9R 5C8

$950,000

Fully leased commercial building with near 8% CAP Rate. 324 Terminal Ave is now fully leased with its longest term tenant renewing for an additional term through 2023. This beautifully renovated office building is in the heart of downtown Nanaimo, right beside the largest customer parkade with stairs access to all shops and restaurants in the Commercial at corridor. The owner purchased this building for his own use for a web development company and the renovations were done to the highest standard by Bob Wall Contracting. It has NEW HVAC for all 3 units and is fully wired for the tech needs or any company. Out of town visitors to our clients can walk to the building in less than 5 minutes from the seaplane. You cannot beat this location! Since it is downtown Nanaimo, ensuring you have environmental surveys done is important. The owner has already purchased both phase 1 and phase 2 environmental surveys and can provide them to interested parties (this is an added value of over $50k and a process that is already done for any investor which saves a lot of time). With a CAP rate this good, a location right downtown, and the potential for future development in one of British Columbia's most desirable cities on Vancouver Island every investor will want to add this hidden gem to their portfolio for either buy and hold or redevelopment. (id:33633)

Business

Business Type Other, Retail and Wholesale
Business Sub Type Other

Property Details

MLS® Number 860091
Property Type Business
Neigbourhood Old City
Plan Vip37804

Building

Constructed Date 1974
Fire Protection Fire Alarm System, Sprinkler System-fire
Fireplace Present No

Land

Acreage No
Size Irregular 3020
Size Total 3020 Sqft
Size Total Text 3020 Sqft
Zoning Description Dt4
Zoning Type Unknown

https://www.realtor.ca/real-estate/22579935/324-terminal-ave-nanaimo-old-city

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