4,540 sqft
Lot
About This Property
This other in Courtenay offers a 4,540 sqft lot. The property has lot dimensions of 4540, zoned Unknown. The home features heat pump heating, fully air conditioned, air conditioned.
MLS Remarks
Exceptional investment opportunity in the heart of Downtown Courtenay. This well maintained commercial building offers over 3,300 sq ft of prime retail space with three established tenants in place, generating $51,240 in annual income plus NNN. For investors, the advantage of triple net leases is clear, tenants cover operating costs such as taxes, insurance, and maintenance, creating a far more predictable and hands off investment compared to residential rentals where unexpected expenses can quickly impact returns. Two of the tenants have successfully operated here for over 20 years, providing outstanding long term stability, while the newest tenant secured their space after competing in a multiple offer for this highly sought after storefront location. Strong demand for Downtown Courtenay retail frontage continues to highlight the value of this asset. Located in one of the most vibrant commercial corridors on Vancouver Island, this property benefits from excellent foot traffic, strong neighbouring businesses including Bigfoot Donuts, Hot Chocolates, and BMO, plus additional nearby parking that makes access convenient for customers and staff alike. The thriving downtown business community continues to attract both locals and visitors year round. The building is in great condition with pride of ownership evident throughout, including individual heat pumps for all three units and the added bonus of two private parking stalls, an increasingly rare feature downtown. Predictable lease escalations are already built into the existing agreements, offering reliable income growth and long term security for the next owner. Please don't disturb the existing tenants. (id:60351)
Overview
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