4216 25 Avenue Vernon, British Columbia V1T 1M1
$1,950,000
Situated prominently on 25 Avenue in Vernon, this 15,074 square foot concrete block light industrial building commands attention on a .66 acre high exposure level lot. Its strategic location offers prime visibility and accessibility. The building's frontage on 25 Avenue is versatile, with the potential to be divided into four separate units thanks to existing door placements, catering to a range of tenants' needs. Meanwhile, the rear portion, accessible from 24 Avenue, features a paved and fenced yard area, facilitating smooth operations. The property boasts newer roof and mechanical systems, indicative of its well-maintained status and potential for reduced maintenance costs. 3 of the 6 overhead doors are newer, 2 have electric openers. LED lighting. Currently, two of the three existing leases are notably below market rates, presenting an opportunity for increased returns upon renewal in 2025 and 2027. This favorable leasing situation positions the property for a significant uptick in profitability, aligning with market trends and maximizing its investment potential. (id:38892)
Property Details
| MLS® Number | 10304125 |
| Property Type | Industrial |
| Neigbourhood | City of Vernon |
| Parking Space Total | 15 |
Building
| Constructed Date | 1975 |
| Cooling Type | Central Air Conditioning |
| Heating Type | See Remarks |
| Size Interior | 15074 Sqft |
| Type | Other |
Land
| Access Type | Easy Access |
| Acreage | No |
| Current Use | Industrial |
| Size Irregular | 0.66 |
| Size Total | 0.66 Ac|under 1 Acre |
| Size Total Text | 0.66 Ac|under 1 Acre |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/26510462/4216-25-avenue-vernon-city-of-vernon
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March 07 2024 07:36:57
Okanagan-Mainline Real Estate Board
RE/MAX Vernon
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