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In-PersonVirtual Tour
$ 1,199,000
Est. payment | /mo
4,000 SqFt
$ 1,199,000
Est. payment | /mo
4,000 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $299
Subdivision West Kelowna Estates
MLS® Listing ID 10354386
Source Association of Interior REALTORS®
Property Description
CAP RATE 6.43% + NNN | West Kelowna Industrial Investment. Secure stable revenue in a high-demand industrial location. This 4,000 sqft I1-zoned commercial strata unit in West Kelowna Estates is fully leased to a reliable fitness centre tenant who has operated here for over 8 years. The unit features a mezzanine, 4 assigned parking spaces, and is part of a well-managed complex just off Highway 97 — beside National Storage and Warehouse. The tenant is midway through a triple-net lease, currently generating $75,600/year in total rent including a seller-financed equipment repayment. On November 1, 2025, lease revenue increases to $77,600/year, with the equipment repayment continuing through the term. The projected cap rate over the next 12 months is 6.43%. I1 zoning allows for indoor recreation, alcohol production, distribution, tech, service commercial, and more — giving this property long-term flexibility and tenant appeal. An ideal turnkey investment for buyers seeking passive income, zoning versatility, and strong location fundamentals in West Kelowna's thriving industrial market. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by Royal LePage Kelowna
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
1 - 1890 Cooper Road, KELOWNA, British Columbia, V1Y 8B7, CA