778-760-9443
294 Bernard Av, Kelowna, BC for Sale
Storefront - FOR SALE
1/7
null | 5% Cap Rate

294 Bernard Av
Kelowna, BC V1Y 6N4


HIGHLIGHTS

  • A landmark BMO branch at the iconic intersection of Bernard Avenue and Water Street, positioned at one of Downtown Kelowna.
  • 100% occupied by Bank of Montreal, one of Canada’s Big Five banks, with continuous operations at the Subject Property since 2001.
  • Situated at the gateway to Kelowna’s downtown waterfront district, with immediate access to Okanagan Lake, City Park, hotels, restaurants, etc.
  • Surrounded by luxury residential towers, hotels, office buildings, and major lifestyle amenities, with more than 1,600 residential units planned.
  • The Subject Property is held in a bare trust, providing purchasers with the potential option to acquire shares of the nominee corporation.
  • UC1 Downtown Urban Centre zoning supports a broad range of mixeduse development, including retail, office, hotel, financial institution, etc.

OVERVIEW

Marcus & Millichap's Western Canada NNN Group has been exclusively engaged to market the 100% freehold interest in 294 Bernard Avenue, Kelowna, British Columbia (the "Subject Property"). The Subject Property is a three-storey, mixed-use commercial building totalling 19,086 SF, 100% leased to Bank of Montreal (dba "BMO") on a recently extended triple-net (NNN) lease expiring May 31, 2031. Situated at the iconic corner of Bernard Avenue and Water Street in the heart of Downtown Kelowna, the Subject Property benefits from immediate proximity to Okanagan Lake, a rapidly densifying residential and hospitality precinct, and Kelowna's premier high street retail corridor. The offering presents a rare opportunity to acquire a trophy, single-tenant flagship asset underpinned by one of Canada's largest and most creditworthy financial institutions, located on one of the most recognizable commercial corners in the Okanagan.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BMO

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

UC1

APN/PARCEL ID

007-607-105

ASK ABOUT THIS PROPERTY

Curtis LeonhardtMarcus & MillichapMore Info
778-760-9443

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Curtis LeonhardtMarcus & MillichapMore Info
778-760-9443

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