Penticton, BC V2A3J7 260 Okanagan Avenue E

Presenting a prime investment opportunity with a mixed-use industrial building offering approximately 33,784 square feet of space on a .678-acre lot, ideally located at the corner of Okanagan and Camrose Avenue in Penticton BC, just a few blocks from Main Street. This versatile property is currently utilized for self-storage, space rentals, and warehouse purposes, providing multiple revenue streams under one roof. The current tenant, who has already invested over $1,174,000 in building improvements since 2021—including the installation of an elevator, upgraded electrical systems, fire suppression, accessible washrooms, and more—has expressed readiness to sign a long-term, 10-year triple net lease with an average cap rate of 6.75%. This setup offers a stable, hands-off income opportunity with minimal management responsibility, backed by a reliable, committed tenant. The proposed lease rate offers an attractive, competitive cap rate, making this property an excellent addition to any investment portfolio. (id:7434)