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5101 25 Avenue,
Vernon V1T1P5

$890,000
Business built: 1983

Main Photo: 5101 25 Avenue, in Vernon: Business for sale : MLS®# 10177486
Photo 1: 5101 25 Avenue, in Vernon: Business for sale : MLS®# 10177486
Photo 2: 5101 25 Avenue, in Vernon: Business for sale : MLS®# 10177486
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Status:
Active
Prop. Type:
Business
MLS® Num:
10177486
Build. Type:
Unknown
Fabulous investment opportunity. Hands off and cash rich investment for at least 5 years, then great upside potential for lease extensions, new development or re-development. Very versatile 8100 sq ft building on .66 acres flat of flat land currently zoned I1 Industrial in a high traffic and developing area. Very versatile building with lots of life left in it. 5994 sq ft main level including; main rental / reception hall, commercial kitchen, 2 lounges, storage room, gaming area, washrooms and office. Approximately 2130 sq ft of basement with meeting room, washrooms and walk in cooler. Land is all flat with approx 34 parking stalls and even some serviced guest RV sites in the rear. The property is currently owned by the Vernon Fraternal Order of Eagles Home Society and they have just leased the property back to themselves for a 5 year term plus renewals. The lease is a pure triple net lease at $5,000 per month plus renewals with the tenant paying ALL expenses for a hassle and management free investment. At the full asking price the cap and ROI is a very healthy 6.7% and it would be hard to go wrong with commercial or development property is this growing and developing area.  (id:2493)
Property Type:
Business
Size Interior:
5,994 sq. ft.
Transaction Type:
For sale
Ownership Type:
Freehold
Community:
Okanagan Landing
Amenities:
Shopping, Airport, Schools, Public Transit
Features:
Central location, Visual exposure, Flat site, Level, Pole sign
Community Features:
High Traffic Area
View:
Mountain view
Building Type:
Unknown
Building Amenities:
Shopping Area
Utilities:
Sewer - Available
Age:
36 years
Fireplace:
No
Heating:
Baseboard heaters
Roof Style:
Asphalt shingle, Conventional
Water:
Municipal water
Sewer:
Municipal sewage system
Land Amenities:
Shopping, Airport, Schools, Public Transit
Road Access:
Easy access
Lot Frontage:
89'
Lot Size:
0.672 acre(s)
Lot Size:
0.672 ac|under 1 acre
Lot Details:
0.672
Road Surface:
Paved road
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Data was last updated March 26, 2019 at 02:15 PM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$417,000
Min list price:
$39,888
Max list price:
$1,290,800
Avg days on market:
63
Min days on market:
4
Max days on market:
291
Avg price per sq.ft.:
$223.72
These statistics are generated based on the current listing's property type and located in Vernon. Average values are derived using median calculations.
DEFEO & ASSOCIATES
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.