10,392 sqft

$1,750,000

Industrial Property with Self-Storage Opportunity | Penticton **Asking price: $1,750,000** Located at 275 Okanagan Avenue East, this approximately 10,392 sq. ft., two-storey industrial building sits on a fully fenced, approximately 0.50-acre site in an established Penticton industrial area. The property includes commercial and office space, a self-storage facility and a fenced yard. The second floor is partially improved for office and staff use. The sellers are prepared to enter into a **proposed five-year lease with Rencon**, with a target return of **6.5%** at the asking price. The proposed annual net rent is $113,750, subject to finalizing the lease and confirming the allocation of property expenses. The purchaser may also elect to acquire the self-storage business as part of the purchase, with no separate asking price, or the business may remain with the current owners. The lease and storage-business arrangements will depend on the purchaser’s choice and final agreement. The property presents an opportunity for an investor or a buyer interested in an industrial property with a self-storage operation. (id:64133)

• Property Details
• Building
• Land
• Rooms
• Utilities

• Property Details

  MLS® Number	10404533
  Property Type	Other
  Neigbourhood	Industrial Area

• Building

  Exterior Finish	Metal, Wood
  Foundation Type	Insulated Concrete Forms
  Roof Material	Metal,other
  Roof Style	Unknown,unknown
  Size Interior	10,392 Sqft
  Type	Residential Commercial Mix

• Land

  Acreage	No
  Current Use	Mixed Use
  Size Irregular	0.5
  Size Total	0.5 Ac|under 1 Acre
  Size Total Text	0.5 Ac|under 1 Acre