1264 Carmi Avenue Penticton, British Columbia · 2019. 10. 24. · 1264 Carmi Avenue Penticton,...

1264 Carmi Avenue Penticton, British Columbia

NAI Commercial 5718 Glover Road

Langley, BC V3A 4H8 +1 604 534 7974 naicommercial.ca

Ken KiersPersonal Real Estate Corporation 604 209 2222 [email protected] Canada’s Self-Storage Expert

FOR SALEStop and Store Self-Storage

Property Highlights �Future Development Permitted

�1.84 Acres

�M1 Industrial Zoned (Permits Self-Storage)

�318 Purpose Built Self-Storage Containers

�Expansion Potential (350 containers permitted)

�Excellent Exposure to Busy Street

Reduced Price: $3,495,000

N

SUBJECT PROPERTY

PRICE REDUCED

*APPRAISED VALUE ABOVE ASKING PRICE

*To assist Buyer review and due diligence, the Seller will provide formal Appraisal upon Execution of the Non-Disclosure Agreement.




The OpportunityNAI Commercial (Langley) LTD, is pleased to exclusively offer FOR SALE, Stop and Store Self-Storage located in Penticton, BC.

The 1.84-acre site is conveniently located directly across the street from a large developed residential area, and close to the Penticton Regional Hospital as well as a large commercial centre which includes, McDonald's, Real Canadian Superstore, Boston Pizza, Save-On-Foods, London Drugs and much more.

The storage operations are currently operated remotely with no onsite management or employees. The offering includes 318 purpose-built storage containers which generate steady revenue to the Owner. The development permit permits up to 350 containers to be placed on the site.

The LocationLocated in the south-central region of British Columbia, Canada, collectively known as the Okanagan Valley, Penticton is easily accessible from major urban centres. By highway, the city is 5 hours from Seattle, WA or Vancouver, BC and 8 hours from Calgary, AB.

The city is surrounded by two freshwater lakes and gentle rolling mountains. Penticton has the most attractive climate of all Canadian cities, according to Environment Canada. Over 2,100 hours of sunshine and only 15 inches of rain annually give this area a comfortable climate year round.

Along with all of the year-round recreational activities available, agriculture has been an essential contributor to Penticton’s livelihood. There are over 80 wineries in the Penticton metropolitan area, five craft breweries and three distilleries all within easy distance of the downtown core


Value Village

SUBJECT PROPERTY

McDonald's

Boston Pizza

Penticton Regional Hospital

IGAPenticton

Power Centre




The Property

Legal Description:LOT 2 DISTRICT LOT 3821S SIMILKAMEEN DIVISION YALE DISTRICT PLAN EPP58276

PID: 072 438 109

Area: 1.84 Acres

Zoning: M1 – General Industrial

Buildings: 318 (Provided to Purchaser Clear Title)

Net Rentable: ± 28,803 SF

Expansion Opportunity: Development Permit allows for a total of 350 Containers

Development Opportunity:Zoning allows for up to 86,250 SF of building area over three floors.

Property could be developed in stages while converting customers from containers to the new construction.

Occupancy and Income

Current Occupancy 65% - 100 New Containers Recently Added

Potential Gross Income $456,050 - Fully Occupied

Potential NOI $281,350 - 15% Vacancy Allowance

* Cost Value of extra containers at 85% occupancy: 48 containers @ $2,700/can = $129,600

Future DevelopmentCurrent zoning permits the construction of up to 86,000+ SF (gross) of a Class A Self-Storage Facility on three floors.




No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.


For more detailed, confidential financial information, please complete the attached ConfidentialityAgreement and return to the listing agent.


SUBJECT PROPERTY

ConfidentialityAgreement-Stop and Store 1

CONFIDENTIALITY AGREEMENT TO: NAI Commercial 5718 Glover Road Langley, BC V3A 4H8 The undersigned Potential Purchaser has expressed interest in making an Offer to Purchase that property and or business located at 1264 Carmi Ave, Penticton, BC (hereinafter referred to as the “Property”). As a result, NAI Commercial (hereinafter referred to as the “Agent”), is providing to the undersigned certain information about the Property which is non-public, confidential, or proprietary in nature on behalf of the owner. All such information and copies thereof together with any analyses, compilations, studies, or other documents prepared by the undersigned or agents, representative or employees of the undersigned which contain or otherwise reflect such information, together with information which is delivered verbally and is identified as confidential, is referred to herein collectively as the “Confidential Information”. As a condition and in consideration of your agreement to make the Confidential Information available, the undersigned covenants, acknowledges and agrees as follows: 1. That it will keep the Confidential Information confidential and will: (a) not use the Confidential Information in any way detrimental to the Owner or its

tenants; (b) not use the Confidential Information in any way other than in connection with the

undersigned’s evaluation of the Purchase; (c) not reveal the Confidential Information to its agents, representatives, and

employees except to such of the aforesaid who agree to be bound by the terms of this agreement and who need the Confidential Information to evaluate the Purchase. The undersigned acknowledges that it is responsible for any breach of this agreement by its agents, representatives and employees.

2. That it may not assign or delegate any of its obligations pursuant to this

agreement without the prior written consent of the Owner. 3. That it will keep record of the Confidential Information furnished and of its

location. Confidential Information, except that portion consisting of analyses, compilation and studies, remains the property of the Agent and will be returned to it immediately upon request, together with all copies of the Confidential Information made by the undersigned.

ConfidentialityAgreement-Stop and Store 2

4. That it will provide the Agent with prompt written notice of the circumstances surrounding any disclosure by it of Confidential Information, whether under compulsion of law or otherwise, in order that the Agent may seek a protective order or other appropriate remedy or waive compliance with the agreement, the undersigned will release only such Confidential Information as it is advised by written opinion of counsel is required and will use its best efforts to ensure that the Confidential Information is given confidential treatment.

5. That is hereby indemnifies and saves harmless the Agent their successors and

assigns from any and all claims, losses, costs, or damages suffered or incurred by or against the Agent or owner by reason of the Agent releasing Confidential Information to the undersigned.

Acknowledged and accepted this _____ day of ______________, ___________ __________________________________ Telephone Number: _______________ Company Name __________________________________ Signature ______________________________ Email: _________________________ Signed by (Name) _______________________________ Position of Signator Upon Completion of the above, please return via email to [email protected]

1264 Carmi Avenue Penticton, British Columbia · 2019. 10. 24. · 1264 Carmi Avenue Penticton,...

Documents

Transcript of 1264 Carmi Avenue Penticton, British Columbia · 2019. 10. 24. · 1264 Carmi Avenue Penticton,...