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322 John St
Vi Rock Bay Victoria V8T 1T3

$4,950,000
Commercial Sale

Main Photo: 322 John St in Victoria: Vi Rock Bay Industrial for sale : MLS®# 1005050
Photo 1: 322 John St in Victoria: Vi Rock Bay Industrial for sale : MLS®# 1005050
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Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
1005050
Exceptionally well-located investment property, in the heart of the Rock Bay Industrial District. 322 John Street is a versatile 10,465 SF building on a 16,765 SF secured lot with lots of parking. Centrally located with excellent vehicular access to Greater Victoria and all major highways. The current owners have taken great care of the building. There is a long term, Class AAA tenant in place by the name of Westburne Electric, owned by parent company Rexel Canada since 1926. Westburne is a nationwide leader in lighting and energy solutions. The tenant is currently paying “below market” rents, which gives an in-coming investor a great opportunity to increase the revenue on the building by 25% within the next two (2) years. The opportunity is to purchase an exceptionally well-located and cared-for industrial warehouse in the heart of midtown Victoria, with a solid Class AAA tenant in place and the bonus of being able to roll up rents by approximately 25% within the next two (2) years.
Property Type:
Commercial Sale
Type:
Industrial
Commercial Type:
Building, Land
Lease Type:
Sale Price
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Vi Rock Bay, Victoria
Bathrooms:
- (Full:-/Half:-)
Lot Size:
16,684 sq. ft.
Taxes:
Ceiling Heights:
Total Building Area:
10,465 sq. ft.
Commercial Area:
Fireplace:
No
Pending Date:
Main Level
0
Yes
No
Unrestricted
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Victoria
Legal Description:
Units in Building:
Units in Community:
Parking Features:
On Site
Total Units:
Date Listed:
Jul 01, 2025
Original Price:
4950000.0
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Listed by Royal LePage Coast Capital - Chatterton
Data was last updated July 4, 2025 at 06:05 AM (UTC)
Area Statistics
Listings on market:
104
Avg list price:
$1,380,000
Min list price:
$10,000
Max list price:
$13,500,000
Avg days on market:
88
Min days on market:
1
Max days on market:
900
These statistics are generated based on the current listing's property type and located in Victoria. Average values are derived using median calculations.
CHRISTINA STACK
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.