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Prime Vernon commercial investment opportunity featuring a long-term Province of British Columbia government tenant. Centrally located at 3007 35 Avenue, the property offers approximately 4,632 sq. ft. of rentable area with a 5-year lease commencing April 1, 2025, plus two additional 5-year renewal options. Zoned CMUB – Commercial Mixed Use: Business, allowing a broad range of commercial and mixed-use opportunities with density up to 3.5 FAR and building height up to 6 storeys. An attractive opportunity to acquire a stabilized government-tenanted asset with secure income and long-term redevelopment potential in a prime Vernon location.
Highlights
- Leased to the Province of British Columbia on a 5-year lease starting April 1, 2025, per the listing.
- Two additional 5-year renewal options are included, per the listing.
- Zoned CMUB (Commercial Mixed Use: Business), allowing density up to 3.5 FAR and height up to 6 storeys, per the listing.
- Municipal water and sewer, plus central air conditioning, per the listing.
- Town centre about 530 m away and Vernon Civic Arena about 200 m, straight-line.
Things to check
- The details show 4,362 sq ft, but the description says about 4,632 sq ft of rentable area. Confirm the measured area.
- Heating and roof are listed as "Other". Ask what systems are in place and how old they are.
- Built in 1987. Ask about recent upgrades to the building's major systems.
- Ask for the lease and renewal terms in writing before deciding.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Good to know: B.C.’s 20% foreign buyers’ tax doesn’t apply in Vernon, because Vernon is in the Regional District of North Okanagan. Moving from Vancouver or the Fraser Valley to Vernon →
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
- $1,550,000
- MLS® number
- 10395086
- Property type
- Commercial
- Living area
- 4,362 sq ft
- Year built
- 1987
- Parking spaces
- 15
- Annual taxes
- $23,731
- Community
- City of Vernon, Vernon
- Cooling
- Central air conditioning
- Water
- Municipal water
- Sewer
- Municipal sewage system
- Parking details
- 15 spaces in total
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Listing information is provided by Century 21 Assurance Realty Ltd through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-09-30.