This well-maintained commercial building offers an exceptional opportunity for investors seeking passive, long-term returns. Located in the heart of downtown Penticton, the property Comprises two fully leased units, both occupied by established businesses under secure, long-term triple-net leases. Recent tenant improvements and significant landlord upgrades, totaling approximately $100,000, enhance the property’s value and appeal. With minimal management required and no near future risk of vacancies, this asset is ideal for those looking to either start or expand their commercial real estate portfolio. Both leases include built-in rent escalations, providing a reliable income stream that keeps pace with market trends. Additionally, the city of Penticton continues to make strategic investments in its downtown core, further enhancing the area's desirability and long-term growth potential. Don’t miss this outstanding opportunity to secure a prime commercial property with solid returns and minimal risk. The property offers a capitalization rate of 5.9%, based on the current income and list price. (id:47421)
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Detailed Information
Listing Contract Date
2025-03-03
Municipal ID
012-459-607
Ownership Type
Freehold
# of Parking Spaces
3
Property Type
Retail
Transaction Type
For sale
Zoning
Commercial
Building
Constructed Date
1930
Exterior Finish
Concrete Block
Roof Material
Tar & gravel
Roof Style
Unknown
Type
Retail
Land
Total Size
under 1 acre
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