Thrive Okanagan Real Estate Team

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RE/MAX Vernon Listings

4216 25 Avenue
City of Vernon Vernon V1T 1M1

$1,950,000
Industrial

Main Photo: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 1: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 2: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 3: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 4: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 5: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 6: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 7: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Photo 8: 4216 25 Avenue in Vernon: Industrial for sale : MLS®# 10304125
Status:
Active
Prop. Type:
Industrial
MLS® Num:
10304125
Build. Type:
Other
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:2493)
Property Type:
Industrial
Size Interior:
15,074 sq. ft.
Transaction Type:
For sale
Ownership Type:
Freehold
Community:
City of Vernon
Building Type:
Other
Half Bathrooms:
0
Age:
49 years
Cooling:
Central air conditioning
Fireplace:
No
Heating:
See remarks
Road Access:
Easy access
Current Use:
Industrial
Acreage:
No
Lot Size:
0.66 acre(s)
Lot Size:
0.66 ac|under 1 acre
Lot Details:
0.66
Total Parking Spaces:
15
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Listed by RE/MAX Vernon
Data was last updated May 17, 2024 at 11:15 AM (UTC)
STEVE WIKKERINK
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