2229 6th Av

2233 & 2229 6th Ave - Castlegar perfect for INDUSTRIAL DEVELOPERS AND INVESTORS. Outstanding industrial investment opportunity includes two side-by-side industrial properties totaling approximately 0.6334 acres in Castlegar, BC. National tenant with a recently signed lease occupies the 7,529 SF industrial building with3 grade level loading bays and 109% tenant-occupies both properties. Current CAP rate is approx. 8.4% (at ask) but will increase every year with the negotiated escalation in rates through the term of the lease. M1 – Light Industrial zoning provides potential for further densification of the properties through redevelopment for almost 50,000 SF at max FAR and building heights up to 3 stories. The current lease will provide substantial cash flow and holding income until the properties are ready to be further redeveloped.