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$525,000 total
1,600 SF
Asset Class
Specialty
Size
1,600 SF
Building class
A
Zoning
DC2 — Site Specific
$ / SF
$328
Occupancy
92%
Lot Size
0.2840909090909091 ac
Discover the possibilities with these 3 separately titled commercial lots, centrally located in the heart of downtown Port Alberni! With versatile C7 zoning, these properties offer 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. The adjacent 2 lots are each 33'x125' and await your ideas! 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 3 separately titled commercial lots at an accessible price point with multiple avenues for future use and development. Bring your ideas and explore the possibilities! (id:66811)
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Monthly debt service
$2K
Projected NOI
$39K
Annual cash flow
$10K
Cash-on-cash
6.09%
DSCR
1.33
Going-in cap
7.37%
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.
| Tenant | Area | Expiry |
|---|---|---|
| Halcyon Wealth Partners | 999 SF | 2030-07 |
| Halcyon Wealth Partners | 400 SF | 2030-07 |
| Halcyon Wealth Partners | 400 SF | 2030-07 |
| Halcyon Wealth Partners | 400 SF | 2030-07 |
Trade area within 3 miles of the property.
Population
140,005
Households
49,671
Median income
$95,000
Median age
33.4
Daytime population
230,870
5-yr growth
3.6%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 3203 & 3211 2nd Ave, Port Alberni.
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.