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**LIMITED TIME OFFERING** Previously listed at $1,599,000; now offered at $1,549,000. PRICED TO SELL. Rare opportunity to acquire a fully leased, income-producing commercial property in the heart of downtown Summerland at 9901 Main Street. This mixed-use asset comprises approximately 5,244 SF with five commercial tenants in place, including two ground-floor retail units and three office tenants, providing a diversified and stable income stream. Offered at an attractive approximate 6.3% capitalization rate, the property delivers immediate cash flow with future upside through rental growth, as select tenancies offer the ability to increase rents toward market over time. An excellent opportunity for investors seeking a fully stabilized, low-maintenance commercial asset in a supply-constrained downtown market with long-term appreciation potential.
Highlights
- Fully leased, with five commercial tenants: two ground-floor retail units and three office tenants, per the listing.
- Building is about 5,244 sq ft, per the listing.
- The listing shows an approximate 6.3% capitalization rate.
- Select tenancies may allow rent increases toward market over time, per the listing.
- Town centre is 70 m away and Okanagan Lake is 2.1 km away, per the listing.
Things to check
- Ask for the current rent roll, lease terms and expiry dates for all five tenants.
- Ask for the actual annual property tax and operating cost amounts, as the listing does not state them.
- Confirm the zoning allows the mixed retail and office uses described in the listing.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Overall neighbourhood score 8.5 / 10; walk & bike score 7.8 / 10, from how close the nearest school, park or trail, rec centre and town centre are. Scores and distances are Sean Phillips’s own straight-line measures from this home to public B.C. map data. They are not part of the MLS® listing; driving distances are longer, so please check anything that matters to you.
- Price
- $1,549,000
- MLS® number
- 10396799
- Property type
- Commercial
- Living area
- 5,244 sq ft
- Community
- Summerland Rural, Summerland
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