275 Okanagan Avenue E

10,392 sqft

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:67517)

• Property Details

  MLS® Number	10404533
  Property Type	Other
  Neigbourhood	Industrial Area

• Building

  ExteriorFinish	Metal, Wood
  FoundationType	Insulated Concrete Forms
  RoofMaterial	Metal,other
  RoofStyle	Unknown,unknown
  SizeInterior	10,392 Sqft
  Type	Residential Commercial Mix

• Land

  Acreage	No
  CurrentUse	Mixed Use
  SizeIrregular	0.5
  SizeTotal	0.5 Ac|under 1 Acre
  SizeTotalText	0.5 Ac|under 1 Acre

• Rooms
• Utilities