INDUSTRIAL INVESTMENT, Summerland

$699,000SOLD

OPPORTUNITY

Level and fully fenced yard area with 2800 SF of improvement space, with a mix of office, retail / reception, planning production and full manufacturing production area. Large, roll up loading door at rear with level, grade entry. Ample yard space for equipment and supply storage. Additional 600 SF of residential space on second floor, not currently utilized.

LOCATION

Located 650 meters off Highway 97 in Summerland, British Columbia, this level, rectangular parcel is situated among other,
complementing industrial businesses. A prime opportunity for low priced, comparable, industrial land and building, within 30-40 minutes of Kelowna, Penticton and connecting highways to the South Okanagan, Coquihalla connector, Highway 3 and Highway 97 South to the US / CDN border.


INDUSTRIAL INVESTMENT, Summerland

  • MLS #10246438

LEGAL DESCRIPTION

Plan: 16477, Lot: 10, District Lot: 454, ODYD
PID: 001-580-523
Frontage: 108’2’ Depth:

KEY FEATURES

  • Constructed in 1976 with additions in 1979 and 1980
  • Situated on 0.49 acres
  • Zoned M12 light industrial
  • Tenant - Remco Memorials Ltd. Current lease runs through October 14th, 2032. Carefree Triple Net Lease
  • Lease review every 5 years with no reduction clause.
  • Next review is September 2027
  • Stabilized NOI $24,720.00 Per Annum.
  • Rentable area 2800 SF.(main floor only) A second floor containing two bedrooms and a washroom are not calculated nor included in the lease income. Size 600 SF
  • Front landscaping
  • Site Position Mid-Block
  • Rear yard graveled and fenced
  • Municipal water, gas and electricity with on-site septic

IMPROVEMENTS

The building is a poured in place, reinforced concrete slab foundation on grade.
Exposed concrete block walls with some brick accents along the main floor and vinyl siding at the second floor.
Wood truss roof with asphalt shingles.