Property Description
Fully leased, income-producing investment opportunity in the heart of downtown Vernon. This well-maintained three-storey office building is fully occupied by five established tenants, providing immediate, stable cash flow with an approximate 5.25% cap rate based on the current asking price and existing rental income. Offering approximately 13,778 rentable square feet, elevator service, and exceptional corner exposure, this is a turnkey commercial asset in one of Vernon's most sought-after downtown locations. A rare second parcel with 20 owned parking stalls provides outstanding value, additional income potential, and future redevelopment flexibility. With zoning that supports redevelopment of up to 16 storeys, this property offers both reliable income today and significant long-term upside. Surrounded by professional offices, restaurants, shopping, government services, and everyday amenities, this is an exceptional opportunity to acquire a premium investment property in Vernon's downtown core. (id:6770)
Overview
Price
$
4,179,000
MLS #
10393107
Age
1995
Size
15000 sqft
Lot Size
0.23
acres
Exterior
Brick, Stucco
Cooling
Heat Pump
Water
Municipal water
Sewer
Municipal sewage system
Property Type
Other
Roof
Unknown
Listing Office
RE/MAX Vernon Salt Fowler
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