INDUSTRIAL DEVELOPERS AND INVESTORS - 2229 & 2233 6th Avenue

Castlegar , BC V1N 2W1

Castlegar
FOR SALE
Property Type:
Industrial
Amount:
$1,039,999
Cap Rate:
8.25%
Last Verified:
Aug 28, 2024

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INDUSTRIAL DEVELOPERS AND INVESTORS Outstanding industrial investment opportunity includes two side-by-side industrial properties totaling approximately 0.6334 acres in Castlegar, BC. National tenant with a recently signed lease occupies the 7,529 SF industrial building with3 grade level loading bays and 109% tenant-occupies both properties. Current CAP rate is approx. 8.4% (at ask) but will increase every yearwith the negotiated escalation in rates through the term of the lease. M1 – Light Industrial zoning provides potential for further densification ofthe properties through redevelopment for almost 50,000 SF at max FAR and building heights up to 3 stories. The current lease will providesubstantial cash flow and holding income until the properties are ready to be further redeveloped.

Map of Castlegar , BC, V1N 2W1, CA

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.