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For Lease · Retail

1659 Water Street, Kelowna

1659 Water Street, Kelowna, BC V1Y8T8

$36 per sq ft / yr

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Asset Class

Retail

Size

—

Building class

B

Zoning

CNC — Neighbourhood Commercial

$ / SF

—

Occupancy

84%

About this property

Brand new commercial building for lease at the Gateway to Downtown Kelowna. “The Wedge” is a single tenant, commercial building located atthe corner of Water St and Leon Ave. Currently under construction, this unique building will offer a total of +/- 2,448 SF of interior commercialspace with a bonus of a full, third-floor roof top patio level. Main floor space includes an inviting entry way, and a large open area opening to the2nd floor. The 2nd floor is a mezzanine level that overlooks the main level. The 3rd floor is a spectacular roof-top patio with outstanding views ofthe downtown area. Building has 2 internal staircases and elevator access (not installed) including to the roof-top patio. For a qualified tenant,the developer is willing to insulate, drywall and drop the slab (once the utility services are run). If interested this property is also For Sale, formore information contact the listing agent. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$36
Down payment30% · $11
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$0

Projected NOI

$1

Annual cash flow

$-0

Cash-on-cash

-4.63%

DSCR

0.75

Going-in cap

4.15%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

53,860

Households

21,436

Median income

$111,500

Median age

34.9

Daytime population

47,510

5-yr growth

7.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 1659 Water Street, Kelowna.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.