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2230 Cliffe Ave

6,092 SF 100% Leased Retail Building Courtenay, BC V9N 2L4 $3,249,493 USD ($533 USD/SF) 5.50% Cap Rate

Retail Space British Columbia Courtenay 2230 Cliffe Ave, Courtenay, BC V9N 2L4

Investment Highlights

  • NNN lease with built in rental escalations.
  • Prime exposure along Cliffe Avenue / Highway 19A (approx.10,500 VPD), the arterial route servicing Nanaimo and its nearby communities.
  • Development application submitted for 2023 adjacent to the Subject Property for a six-storey mixed use project (11 CRUS and 140 resi units).
  • Rarely available offering anchored by a Popeyes drive-thru, and tenanted by Papa John’s, Vape Street, and Burger Factory.
  • Income underpinned by secure long-term leases (9.8 year weighted average lease term remaining) with renewal options thereafter.

Executive Summary

The Vendor has exclusively retained Marcus & Millichap REIS to facilitate the sale of its 100% interest in Strata Lot 3 - 2230 Cliffe Avenue located in Courtenay, B.C. The property features a triple-net investment opportunity consisting of a freestanding building, situated on stratified land, leased to four retail tenants including a Popeyes drive-thru.

Attachments

2230 Cliffe Avenue. Courtenay. Sale Brochure (3)

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
6,092 SF
Building Class
B
Year Built
2022
Price
$3,249,493 USD
Price Per SF
$533 USD
Cap Rate
5.50%
NOI
$178,722 USD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Zoning
C-2 - C-2 Commercial Two Zone

Amenities

  • Signage
  • Drive Thru
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Walk Score ®
Very Walkable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

White Spot
CIBC
Boston Pizza
Starbucks
Tim Hortons
Browns Socialhouse
RBC Royal Bank
CrossFit
Scotiabank
(604) 630-0215

Contacts

  • Listing ID: 33056147

  • Date on Market: 9/4/2024

  • Last Updated:

  • Address: 2230 Cliffe Ave, Courtenay, BC V9N 2L4

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2230 Cliffe Ave, Courtenay, BC for sale Building Photo- Image 1 of 4
Screenshot_4-9-2024_85845_
2230 Cliffe Ave, Courtenay, BC for sale Building Photo- Image 2 of 4
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2230 Cliffe Ave, Courtenay, BC for sale Building Photo- Image 3 of 4
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2230 Cliffe Ave
(604) 630-0215 x

2230 Cliffe Ave

1/4

Jon Buckley

(604) 630-0215

(604) 630-0215

Curtis Leonhardt

(604) 638-1999

(604) 638-1999

Joe Genest

(604) 398-4341

(604) 398-4341

Andrew Gormley

(604) 675-5257

(604) 675-5257

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