Industrial Property with Self-Storage Opportunity | Penticton **Asking price: $1,750,000** Located at 275 Okanagan Avenue East, this approximately 10,392 sq. ft., two-storey industrial building sits on a fully fenced, approximately 0.50-acre site in an established Penticton industrial area. The property includes commercial and office space, a self-storage facility and a fenced yard. The second floor is partially improved for office and staff use. The sellers are prepared to enter into a **proposed five-year lease with Rencon**, with a target return of **6.5%** at the asking price. The proposed annual net rent is $113,750, subject to finalizing the lease and confirming the allocation of property expenses. The purchaser may also elect to acquire the self-storage business as part of the purchase, with no separate asking price, or the business may remain with the current owners. The lease and storage-business arrangements will depend on the purchaserâs choice and final agreement. The property presents an opportunity for an investor or a buyer interested in an industrial property with a self-storage operation. (id:32467)
| Building |
Other |
| Rooms |
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| Bedrooms |
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| Bathrooms |
0 |
| Square Footage |
10392 ft² |
| Built in |
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| Parking Type |
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| Neighbourhood |
Penticton |
