444 & 446 Main Street Penticton, British Columbia V2A 5C5
$700,000
This well-maintained commercial building offers an exceptional opportunity for investors seeking passive, long-term returns. Located in the heart of downtown Penticton, the property Comprises two fully leased units, both occupied by established businesses under secure, long-term triple-net leases. Recent tenant improvements and significant landlord upgrades, totaling approximately $100,000, enhance the property’s value and appeal. With minimal management required and no near future risk of vacancies, this asset is ideal for those looking to either start or expand their commercial real estate portfolio. Both leases include built-in rent escalations, providing a reliable income stream that keeps pace with market trends. Additionally, the city of Penticton continues to make strategic investments in its downtown core, further enhancing the area's desirability and long-term growth potential. Don’t miss this outstanding opportunity to secure a prime commercial property with solid returns and minimal risk. The property offers a capitalization rate of 5.9%, based on the current income and list price. (id:41053)
Property Details
| MLS® Number | 10337444 |
| Property Type | Retail |
| Neigbourhood | Main North |
| Parking Space Total | 3 |
Building
| Constructed Date | 1930 |
| Exterior Finish | Concrete Block |
| Roof Material | Tar & Gravel |
| Roof Style | Unknown |
| Size Interior | 2408 Sqft |
| Type | Retail |
Land
| Acreage | No |
| Size Total Text | Under 1 Acre |
| Zoning Type | Commercial |
https://www.realtor.ca/real-estate/27978889/444-446-main-street-penticton-main-north
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March 11 2025 07:48:24
Okanagan-Mainline Real Estate Board
Chamberlain Property Group
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Contact Scott & Cole
Scott Marshall and his team are happy to assist in any way possible on the potential purchase or sale of any property here in the Okanagan Valley. With a history dating back to 1911, we know the area like the back of our hands.