498 ELLIS STREET , PENTICTON British Columbia V2A4M2

Sale $3,274,800.00  | 
Listing # 188266
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Office Listing:

Chuck Neufeld, Sales Representative/Associate Broker

Tracy Fehr

Tracy Fehr

Real Estate Agent

Phone: 250.493.2244
Fax: 250.492.6640
Mobile: 250.462.0646

tracyfehr@royallepage.ca
tracyfehrhomes.com

Royal LePage Locations West Realty, Brokerage (Independently owned and operated)

Brokerage

484 MAIN STREET
Penticton,  BC V2A 5C5

Remarks:

The W. C. Parker Building is one of Penticton's most iconic office buildings. Located in the heart of the professional district, it is fully occupied by a major accounting firm, a law office & a corporate office which are housed on the 1st & 2nd floors of the building. Downstairs there are 7 small offices & are fully occupied by a variety of tenants, either on leases or on mo. to mo. tenancies. The building has a total of 15,254 sq. ft. on the 3 floors with the lot being .172 ac. The huge bonus in this package is the .241 ac. paved parking lot across the rear lane with 33 stalls. Together, the total land size is .413 ac. or 17,990 sq.ft. C5 zoning allows for a wide variety of redevelopment options for the parking lot. Most obvious is to do a 2 level parkade with several floors of condos above. If you remove the parking lot revenue & expenses, the building shows a Cap Rate of 5% on its own. The whole package of the building & parking lot shows a 4.15% Cap Rate for the 2021 budget. (id:27)

Commercial

Property Features:

Access Type: Easy access
Amenities Nearby: Public Transit , Schools
Community Features: High Traffic Area
Features: Central location , Corner Site , Visual exposure , Flat site
Property Type: Business
Sewer: Municipal sewage system

Building Features:

Construction Material: Concrete block , Masonry
Heating Fuel: Electric , Natural gas
Heating Type: Forced air
Utility Power: Single Phase