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:4069)
Address
444 & 446 Main Street
List Price
$700,000
Property Type
Retail
Type of Dwelling
Retail
Area
British Columbia
Sub-Area
Penticton
Floor Area
2,408 Sq. Ft.
Year Built
1930
MLS® Number
10337444
Listing Brokerage
Chamberlain Property Group
Postal Code
V2A5C5
