$2,950,000

2906-2916 30th Avenue Lot# 1, Vernon

City of Vernon, Vernon, BC V1T2B7

28,107 sq ft · Single-family home

Listed by Realty One Real Estate Ltd · Steven Hyndman

About this property

Premier Landmark commercial property, the Towne Theatre building, on 30th Avenue, Vernons main retail downtown street. Strong diversified tenant mix with excellent income. 95% leased with med to long term leases, many recently renewed, current gross income $285,900. Increasing to $299,000 in 2027. Also rezoned for high density mixed use commercial/ residential development up, to 16 floors. The building sits on .50 acre site large enough for a future high density project without the need for a land assembly. The site has frontage on 2 streets, 30th and 29th avenue, and has 2 side lanes for amazing access for future re-development. Major updates incl New HVAC heaters 2013,Roof 2017, new hi-eff Boilers with electronic controls for theater space 2021. Current tenants include Towne Theatre Society, Castanet Media, Ustaad G76 restaurant, Metis Cultural Society, Centre for Positive Living, Vibe Art Gallery, Dan Poulin Law, and various small businesses in the 2nd floor offices. (id:67417)

Property details

Price

$2,950,000

MLS® number

10372900

Property type

Single-family home · Residential Commercial Mix · Other

Living area

28,107 sq ft

Lot size

0.5 acres · 0.5

Annual taxes

$52,128

Community

City of Vernon, Vernon

Features

Heating

See remarks

Water

Municipal water

Sewer

Municipal sewage system

Utilities

Water, Sewer, Natural Gas, Electricity, Cable, Telephone

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