1806-1814 VANCOUVER VICTORIA

Fernwood neighbourhood of Victoria British Columbia Canada V8T 5E3
$3,495,000

1806-1814 VANCOUVER VICTORIA

  • Price: $3,495,000
  • MLS Number: 893700
  • Square Footage: 10957 Sq Ft
  • Property Type: Residential

Free-standing professional buildings located at 1806 -1814 Vancouver St. This 1988 built property consists of two – 2 story buildings with a central parking lot for up to approximately 18 vehicles. The current ground floor configuration has 3 units totaling over 4900 sq ft and is fully leased.The 2nd floor walk-up office space (both sides of the building) is leased to one tenant and these units can be easily demised for a potential of 3 tenancies in total. The units all benefit from great natural light and there is high visibility pylon signage at the corner of Vancouver and North Park St. This property is currently on gross leases but still generates great returns and with a vacancy coming up, the opportunity exists for the next owner to transition to net leases and significantly increase the rents to market rates which will provide a considerable lift.The ability to steadily improve the net returns and the future upside of a redevelopment opportunity make this great holding property.

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Listing Brokerage: Pemberton Holmes - Cloverdale

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