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Commercial Retail Revenue Property

$3,700,000

  • Victoria
  • Retail
Sold

Property Description

Located in the Westshore of Victoria, with surrounding neighborhoods that include the Bear Mountain Resort, major regional shopping centers and a multitude of new residential developments, this compelling commercial real estate investment represents an attractive, stable income for years to come.
The property is being offered as a Sale Lease-Back opportunity, whereby the current owners are willing to enter into long-term leases for the existing 3 lease spaces, generating a NOI of $220,000 for a Cap. Rate of 6.0%, based on the current asking price. Significant capital improvements have been done to the property including over $1.4M spent on recent upgrades.