Commercial Strata Investment Property
Property Description
The subject property is located within the neighbourhood known as Colwood Corners at the northern end of Colwood, where the municipality borders both Langford and View Royal. The municipality's main shopping centres are located within the neighbourhood, as is the Juan de Fuca Parks and Recreation Centre. Across the street is the recently completed Colwood Corners shopping centre and there's plenty of other new development in the area including multi-family and commercial projects along Wale Road. Total site area of the overall parcel is approximately 1.87 acres. The subject strata units are located towards the west side of the property, away from the road, but benefiting from the signage at Island Highway. The improvements were originally constructed in 1981 as industrial units, complete with overhead doors, and subsequently converted into their current configuration. The buildings are of concrete block construction with a stuccoed facade. Strata lot 9 was excavated down and a second storey added in 2002. Unit 103A is comprised of 1,340sf, the western portion of Strata Lot 3. It is configured as a bakery with offices (previously office or medical space). Unit 103B, 104 and 109, comprises the eastern portion of Strata Lot 3, along with Strata Lots 4 and 9, totaling 10,835sf of rentable area. This area is contiguous and occupied by a childcare centre. It contains numerous large classrooms, individual and multi-stall washrooms, offices, full kitchen, laundry room, storage rooms, kitchenettes in most classrooms, etc. Unit 105 is occupied by BCMA Westshore and comprises two large rooms, two washrooms (individual and multi-stall) as well as front vestibule and rear storage area. Strata Lots 3, 4 and 5 are one level units, while Strata Lot 9 is two levels (4,000sf at grade + 3,200sf on the second level).
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $5,700,000 |
| No. of Units: | 4 |
| Average Occupancy: | 5.70% |
| Year Built: | 1981 |
| Lot Size: | 14,535.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $1,425,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout