2229 2233 6th Avenue, Castlegar
- Type: Commercial
- Added: 87 days ago
- Updated: 10 days ago
- Last Checked: 16 hours ago
INDUSTRIAL DEVELOPERS AND INVESTORS - Outstanding industrial investment opportunity includes two side-by-side industrial properties (2229 & 2233 6th Avenue) totaling .6334 acres in Castlegar, BC. National tenant with a recently signed lease occupies the 7,529 SF industrial building with 3 grade level loading bays and leases the 2 adjoining properties. Current CAP rate is 8.4 (at ask) but will increase every year with the negotiated escalation in rates through the term of the lease. Final year of the lease will see a CAP rate of 9. 5 for the year ending July 31, 2028. M 1 - Light Industrial zoning provides potential for further densification of the properties through redevelopment for almost 50,000 SF at max FAR and building heights up to 3 stories. The current lease will provide substantial cash flow and holding income until the properties are ready to be further redeveloped. (id:1945)
Property DetailsKey information about 2229 2233 6th Avenue
- Heating: No heat
- Year Built: 1975
- Structure Type: Other
Exterior & Lot FeaturesLearn about the exterior and lot specifics of 2229 2233 6th Avenue
- Lot Size Units: acres
- Lot Size Dimensions: 0.63
Location & CommunityUnderstand the neighborhood and community
- Common Interest: Freehold
Tax & Legal InformationGet tax and legal details applicable to 2229 2233 6th Avenue
- Zoning: Unknown
- Parcel Number: 012-433-501
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Nearby Listings Stat
Active listings
58
Min Price
$127,000
Max Price
$1,599,999
Avg Price
$582,795
Days on Market
155 days
Sold listings
17
Min Sold Price
$124,900
Max Sold Price
$1,100,000
Avg Sold Price
$569,100
Days until Sold
96 days
