For Lease · Specialty

500 LORNE Street, Kamloops

500 LORNE Street, Kamloops, BC V2C1W3

$2.0M per sq ft / yr

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Asset Class

Specialty

Size

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Building class

C

Zoning

US — Urban Services

$ / SF

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Occupancy

87%

Year Built

1920

Lot Size

0.15 ac

About this property

Rare opportunity to acquire the historic CN Station Building -- a fully equipped, turnkey restaurant building in the heart of downtown Kamloops. Built in 1920, this 11,700 sq ft heritage landmark sits on a 6,661 sq ft lot in Station Plaza, steps from Sandman Centre arena, downtown hotels, offices, and a growing base of condo residents. Currently operating as a leased restaurant, with vacant possession on closing. Features include a stunning spiral staircase connecting two floors, a fully functioning elevator with access to all floors, a sunken wraparound bar, fireplaces on both levels, a dedicated private dining room, and seating for 300 including patio. Fully equipped commercial kitchen included, and a separate prep kitchen. The building also features a dedicated dining room for business meetings or smaller parties. Food Primary liquor licence is transferable. Zoned CBD (Central Business District), permitting restaurant, pub, nightclub, entertainment, and office use as-of-right, offering flexibility well beyond food service. Ample public and street parking surrounds the property, and there are several existing and new construction apartment buildings well within walking distance. A genuine second-generation opportunity that eliminates the cost and delay of a ground-up build, inside one of Kamloops' most distinctive and recognizable buildings. Offered at $1,999,000. Also available for lease for the right tenant. Inquire with listing agent. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.99M
Down payment30% · $597K
Interest rate6.25%
Amortization25 years
Occupancy87%
Expense growth2.5%

Monthly debt service

$9K

Projected NOI

$96K

Annual cash flow

$-14K

Cash-on-cash

-2.40%

DSCR

0.87

Going-in cap

4.82%

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

65,516

Households

30,442

Median income

$133,500

Median age

38.6

Daytime population

64,693

5-yr growth

8%

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

Secure deal room

Confidential diligence documents for 500 LORNE Street, Kamloops.

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.