219 Vermilion Av - Storefront Retail/Residential FOR SALE


Princeton, BC V0X 1W0
$2,360,000 CAD
604-316-5975
219 Vermilion Av, Princeton, BC for Sale
$2,360,000 CAD
Storefront Retail/Residential - FOR SALE
1/21
null | 7% Cap Rate

219 Vermilion Av
Princeton, BC V0X 1W0


OVERVIEW

Fully Leased Investment Property: Multi-tenanted commercial and residential building, offered at $2,360,000 with a strong 7% CAP rate on the asking price. Solid Tenant Mix: Main floor retail unit (approx. 9,577 sq. ft.) leased to Fields Store until October 2029, with two 5-year renewal options. Residential component includes 10 upgraded units (seven 1-bed, one 2-bed, two bachelor suites). Recent Upgrades: Electrical, plumbing, heating, and cooling systems updated in 2021. Commercial unit renovated in 2024 with new LED lighting, flooring, drywall, paint, ceiling tiles, and furnace. New air conditioning scheduled for spring 2025. Attractive Income: Total gross annual income of $239,230.08, with net income of $165,530.08 after operating Prime Location: Situated on a 13,024 sq. ft. C2-zoned lot in the heart of Princeton, a growing community with competitive operating costs, low municipal tax rates, and a robust labour pool. Economic Drivers: Region supported by forestry, mining, and tourism. Copper Mountain Mine, a major local employer, has an estimated life to 2044. Fields Store Anchor Tenant: Fields is a well-established department store chain with over 60 locations across Western Canada, providing stability and reliability for investors

FOR SALE DETAILS

PRICE

$2,360,000 CAD

PRICE/SF

$236 CAD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,024 SF

ZONING

C2

APN/PARCEL ID

032-224-346

ASK ABOUT THIS PROPERTY

Ron Plowright PRECRe/Max Bob Plowright RealtyMore Info
604-316-5975

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Ron Plowright PRECRe/Max Bob Plowright RealtyMore Info
604-316-5975

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.