For Sale · Specialty

3203 2nd Ave, Port Alberni

3203 2nd Ave, Port Alberni, BC V9Y4C5

$299,900 total

2,022 SF

Asset Class

Specialty

Size

2,022 SF

Building class

B

Zoning

US — Urban Services

$ / SF

$148

Occupancy

84%

Lot Size

0.0946969696969697 ac

About this property

Discover the possibilities at 3203 2nd Ave, a centrally located commercial property in the heart of downtown Port Alberni. Situated on a versatile C7-zoned lot, this property offers an exciting range of commercial and service uses, including hotel/hostel, live-work, and multi-residential dwelling opportunities. The property currently features an approximately 2000 sq. ft. older commercial building with garage/workshop space and a full bathroom on the lower level, plus future potential for a charming 1-bedroom, 1-bath caretaker suite/apartment above. This level offers stunning inlet and mountain views, adding an appealing lifestyle element to this versatile property. With some continued work from the Buyer and the necessary City approvals, this could become an ideal live-work property for an owner-operator looking to combine their business and home in one convenient downtown location. Back-alley access provides additional flexibility and potential for a detached shop or garage, subject to City approval. The building is currently powered by solar and backup generators, while having been connected to BC Hydro in the past. Located just a couple of blocks from the bustling Harbour Quay and close to the area of the potential future Waterfront development, this property offers an attractive entry point for an investor, entrepreneur, or developer looking for a property with flexibility, character, and significant future potential. A rare opportunity to secure a downtown commercial property at an accessible price point with multiple avenues for future use and development. Bring your ideas and explore the possibilities at 3203 2nd Ave! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$300K
Down payment30% · $90K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$19K

Annual cash flow

$2K

Cash-on-cash

2.45%

DSCR

1.13

Going-in cap

6.28%

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.

Rent roll (estimated)

TenantAreaExpiry
Meridian Health Group1,044 SF2028-01
Meridian Health Group403 SF2028-01
Meridian Health Group400 SF2028-12

Area demographics

Trade area within 3 miles of the property.

Population

62,539

Households

26,683

Median income

$117,000

Median age

32.6

Daytime population

73,606

5-yr growth

7.8%

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

Secure deal room

Confidential diligence documents for 3203 2nd Ave, Port Alberni.

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.