20,000+
Listings
50+
Years of Experience
7 Days
Availability & Support
50+
Cities Covered
498 Ellis Street No City Value, British Columbia V2A 4M2
15254 sqft
$3,274,800
The W. C. Parker Building is one of Penticton's most iconic office buildings. Located in the heart of the professional district, it is fully occupied by a major accounting firm, a law office & a corporate office which are housed on the 1st & 2nd floors of the building. Downstairs there are 7 small offices & are fully occupied by a variety of tenants, either on leases or on mo. to mo. tenancies. The building has a total of 15,254 sq. ft. on the 3 floors with the lot being .172 ac. The huge bonus in this package is the .241 ac. paved parking lot across the rear lane with 33 stalls. Together, the total land size is .413 ac. or 17,990 sq.ft. C5 zoning allows for a wide variety of redevelopment options for the parking lot. Most obvious is to do a 2 level parkade with several floors of condos above. If you remove the parking lot revenue & expenses, the building shows a Cap Rate of 5% on its own. The whole package of the building & parking lot shows a 4.15% Cap Rate for the 2021 budget. (id:38470)
Property Details
| MLS® Number | C8037209 |
| Property Type | Office |
Building
| Constructed Date | 1960 |
| Size Interior | 15254 Sqft |
Land
| Acreage | No |
| Size Irregular | 17990 |
| Size Total | 17990 Sqft |
| Size Total Text | 17990 Sqft |
| Zoning Description | C5 |
https://www.realtor.ca/real-estate/22938080/498-ellis-street-no-city-value
Interested?
Contact us for more information
This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
Real Estate Board Of Greater Vancouver
Faith Wilson Group, Royal LePage Locations West
March 17 2021 08:51:56
