Property Description
Large light industrial zoned property in a highly desirable area of Esquimalt (with a portion of the property in Vic West) just minutes from downtown Victoria with easy access to major transportation routes in and around the City. The property offers an exceptional owner / occupier opportunity. With just 35% site coverage and demo clauses in place, the property also has significant upside development potential (approx. 20,000 SF in excess land) while providing the owner with an existing strong and stable rental income. The property is anchored by Monk Office Supply ('Monk') who is an owner occupier. Monk will do a Seller lease back providing the Buyer with a strong cap rate / yield on the purchase (6% + cap rate). Alternatively, Monk can provide vacant possession of the Monk occupied space (18,563 SF of warehouse and 4,721 SF of office over 2 floors) with reasonable notice (lower warehouse occupied by Add2Cart is 4,457 SF). Further details are available upon executing the Non Disclosure Agreement found in the Supplements. (id:63357)
Property Details
- Property Type
- Detached
- Building Area
- 27,741 square feet
- Status
- Active
Location & Neighborhood
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