Over $300,000 in recent renovations: High end office building renovations ready for your buyer with built in lease income. Built for one of Nanaimo top web companies, 324 Terminal Ave boasts 7,928 sqft (6,747 leasable) with 3 separate office spaces for maximum flexibility. The building is fully leased at average $12 sqft + operating costs. Over $300,000 in renovations were done for the previous tenant and include full wiring (previous tenant was a web / software company) advanced security system (including camera monitoring) brand new Hvac systems (heat and cooling pumps on all floors each independent) 3 separate completely renovated spaces. This property supports rent of over $80,000+ triple net using a potential average of $12 per sqft. Do the cap rate calculations on this property and you will see this is one of the best investment properties available in Nanaimo. Additional revenue available from billboard rental to increase value to purchaser even further. Contact Carly Carey for more details and to arrange a showing.
Listing courtesy of RE/MAX Of Nanaimo.
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