VICTORIA

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1806-1814 Vancouver St
Vi Fernwood Victoria V8T 5E3

$3,495,000
Commercial Sale built: 1988

Main Photo: 1806-1814 Vancouver St in Victoria: Vi Fernwood Office for sale : MLS®# 893700
Photo 1: 1806-1814 Vancouver St in Victoria: Vi Fernwood Office for sale : MLS®# 893700
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Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
893700
Year Built:
1988
Free-standing professional buildings located at 1806 -1814 Vancouver St. This 1988 built property consists of two – 2 story buildings with a central parking lot for up to approximately 18 vehicles. The current ground floor configuration has 3 units totaling over 4900 sq ft and is fully leased.The 2nd floor walk-up office space (both sides of the building) is leased to one tenant and these units can be easily demised for a potential of 3 tenancies in total. The units all benefit from great natural light and there is high visibility pylon signage at the corner of Vancouver and North Park St. This property is currently on gross leases but still generates great returns and with a vacancy coming up, the opportunity exists for the next owner to transition to net leases and significantly increase the rents to market rates which will provide a considerable lift.The ability to steadily improve the net returns and the future upside of a redevelopment opportunity make this great holding property.
Property Type:
Commercial Sale
Type:
Office
Commercial Type:
Building
Year built:
1988 (Age: 34)
Lease Type:
Sale Price
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Vi Fernwood, Victoria
Bathrooms:
- (Full:-/Half:-)
Taxes:
Number of Storeys:
2
Ceiling Heights:
Total Building Area:
10,957 sq. ft.
Commercial Area:
Fireplace:
No
Pending Date:
Corner of North Park and Vancouver St.
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:
Occupancy:
Tenant
Parking Features:
On Site
Total Parking Spaces:
18
Total Units:
Date Listed:
Feb 03, 2022
Original Price:
3495000.0
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Listed by Pemberton Holmes - Cloverdale
Data was last updated July 2, 2022 at 02:05 PM (UTC)
Area Statistics
Listings on market:
65
Avg list price:
$299,999
Min list price:
$34,900
Max list price:
$10,900,000
Avg days on market:
86
Min days on market:
1
Max days on market:
759
These statistics are generated based on the current listing's property type and located in Victoria. Average values are derived using median calculations.
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.