5530 WHARF ROAD SECHELT ,BC$6,500,000
Great development potential. Excellent investment opportunity with fantastic holding income, well managed building with many recent upgrades.
5530 WHARF ROAD SECHELT ,BC
- Postal Code: V0N 3A0
- Size: 18,000 Sq ft
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PROPERTY DETAILS CIVIC ADDRESS 5530 Wharf Avenue, Sechelt. BC LEGAL DESCRIPTION PLAN # VAP 8572 DL 303 LOT A LD 36 BLK: 8 GROUP 1,EPLMP 454455 CURRENT ZONING C-2 RETAIL WITH RESIDENTIAL BUILDING SIZE: 55,328 S.F. YARD SIZE: 1.2 Acres There are 3 additional adjoin lots approximately 18,000 sq.ft. 2 lots are bare land and the other lot has a residential home fully tenanted at $700 per month. Extend existing mall or build multifamily potential FSR 2.2 Asking $1.750 Million for all 3 additional lots or purchase together with mall for a discounted price. Own this Prize trophy property. Great development potential. Excellent investment opportunity with fantastic holding income, well managed building with many recent upgrades. The best complex in town of its kind.. The Opportunity::: This offering consist of 100 % freehold interest in 5530 Wharf Avenue a strip mall with living apartment on second floor, located in the Heart of down town Sechelt The tenant roster is diverse and the lease term are spread out, potential exists to convert two vacant warehouse space into a Gym or storage space thereby providing upside potential in revenue generation. This is truly a rare opportunity to acquire a well improved multi tenanted class A Tuscan design shopping centre in a very prominent corner in downtown Sechelt Improvements:: The property is improved with a two story Tuscan design building, Elegant natural cedar post and beams throughout, with metal tile roof. Originally constructed in 1998.The building recently underwent significant upgrades in the residential units Including carpet, paint, new appliances and much more. Exterior of building is currently been painted. The gross Building size is approximately 29000 sq ft. Location: The property is extremely well located on Wharf Avenue it is arguably the one of the best location in town. Been 1 block from the waterfront, city hall, ambulance and surrounded by numerous services, restaurants and shopping. Tenancy:: There are 14 retail units and 10 residential second floor units. Types of tenants include CIBC bank, Spa, Accountant, Restaurants etc. The number and varied scope of the tenants provides a stable and secure cash flow scenario. In addition, the design and visual exposure of the ground floor emphasize the retail nature of this space and the ensuing upside potentials it offers.40 parking spaces.