Listing Details for 324 Terminal Ave, Nanaimo - MLS® #860091

Business For Sale 950,000

Business Property For Sale at $950,000

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Basic Details

Listing ID
22579935
MLS® Number
860091
Street Address
324 Terminal Ave
Street Number
324
Street Name
Terminal
City
Nanaimo
Postal Code
V9R5C8
Property Type
Business
Price
950,000
Ownership Type
Freehold
Zoning Description
DT4
Municipal Id
001-035-266
Neighbourhood
Old City
Zoning Type
Unknown
Plan
VIP37804
More Details...

Property Description

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:8145)

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Full Details

Land

Size
3020 sqft
Irregular
3020

Building

Constructed Date
1974
Fire Protection
Fire alarm system, Sprinkler System-Fire
Top

Business

Business Business Type
Other, Retail and Wholesale
Business Business Sub Type
Other

Listed by RE/MAX Of Nanaimo

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

Listing information last updated on Wed, 11 Nov 2020 02:41:15 GMT.