**5% Cap Rate at market lease rates upon renewal**. Buyer is compensated on the sale price to make up for the underperforming current lease until its expiration in January 2027. 3,662 sq. ft freestanding commercial building on 0.17 acre of land in the busy Springfield and Spall commercial area of Kelowna. Located directly on the corner of Bredin and Kent Road, with easy access to Springfield, Spall, Highway 97, and within close proximity to the Landmark Business Park, downtown Kelowna and Orchard Park Mall. This building has 5 overhead doors (three 10’ and two 12’ clearance), and has been demised with 2 offices, 2 bathrooms and 2 mezzanines all at opposite ends of the building that could have 2 completely different tenants under one roof. The parking is second to none with an abundance on site that will beat any strata complex! The future land use for this property is RCOM (Regional Commercial Corridor) as per the City of Kelowna’s OCP. This I1-zoned building has been the location of an automotive shop for close to 40 years that currently has a tenant in place until January 31, 2027. Phase I Environmental Site Assessment has been completed and available for review. (id:6770)

Listed by Robert A. Wood

Coldwell Banker Horizon Realty

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