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8999 YOUNG Road
Chilliwack Downtown
Chilliwack
V2P 4R9
$5,950,000
Commercial
- Status:
- Active
- Prop. Type:
- Commercial
- MLS® Num:
- C8062902
- Photos (2)
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The Subject Property presents a rare opportunity to acquire a fully leased strip mall with development potential on a half city block in the heart of Chilliwack. The strip mall of the Subject Property is an 18,127 SF building, situated on a 0.74 acre lot. Designated as Village Quarter under the Chilliwack Official Community Plan, prospective purchasers can enjoy an income-generating asset while Chilliwack continues to evolve and densify. 5.31% cap rate on the existing NOI of $315,704. Approximately 80% of leases are up for renewal within the next 2 years, with current average rents around $15/SF. A new lease for the 3,537 sf vacant space has been secured at $25.50/SF, stepping up to $32.70/SF over a 10-year term, presenting a significant income growth opportunity
- Total Floor Area:
- 18,127 sq. ft.1,684.05 m2
- Lot Area:
- 32,234.4 sq. ft.2,994.67 m2
- Land Use/Zoning:
- C2
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Listed by Marcus & Millichap
Data was last updated September 19, 2024 at 12:10 AM (UTC)
- Sat Swaich
- SUTTON GROUP-WEST COAST REALTY
- 1 (604) 8323225
- Contact by Email
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