6639 Sooke Rd - Retail FOR SALE


Sooke, BC V9Z 0A3
$3,090,000 CAD
855-502-8604
6639 Sooke Rd, Sooke, BC for Sale
$3,090,000 CAD
Retail - FOR SALE
1/10
null | 4.42% Cap Rate

6639 Sooke Rd
Sooke, BC V9Z 0A3


HIGHLIGHTS

  • Current rents sit approximately 33% below market, presenting future upside potential upon lease renewal or expiry.
  • The Subject Property is 100% leased on a triple-net (NNN) basis, placing all operating costs with the tenant and a fully passive income stream.
  • The Subject Property is held in a bare trust, providing purchasers with the option to acquire shares of the nominee corporation.
  • Sooke’s population has increased by 15.6% since 2020 and is projected to grow an additional 13.5% by 2030.
  • 105 feet of direct frontage onto Sooke Road (Highway 14), carrying 16,500 vehicles per day, connecting Sooke to Greater Victoria.
  • The property provides 4.6 stalls per 1,000 SF of rentable area at a site coverage ratio of 22%, offering customers convenient and accessible parking.

OVERVIEW

The Vendor has exclusively engaged Marcus & Millichap REIS to market its 100% freehold interest in 6639 Sooke Road, Sooke, British Columbia (the "Subject Property"). The Subject Property is a single-tenant bank branch fully leased to Royal Bank of Canada (RBC) on a triple-net (NNN) basis, providing investors with a strong national corporate covenant and minimal landlord responsibilities. Current in-place rents sit notably below prevailing market rates, presenting investors with a clear path to enhanced yield upon renewal. Situated along Sooke Road (Highway 14), a primary arterial corridor connecting Sooke to Greater Victoria, the property commands excellent visibility and accessibility within an established retail node anchored by essential daily-needs tenants. The offering presents a rare opportunity to acquire a passive, income-producing asset underpinned by one of Canada's most creditworthy tenants.

FOR SALE DETAILS

PRICE

$3,090,000 CAD

PRICE/SF

$883 CAD /SF

CAP RATE

4.42%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

RBC

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

C2

APN/PARCEL ID

023-657-821

ASK ABOUT THIS PROPERTY

Curtis LeonhardtMarcus & MillichapMore Info
855-502-8604

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Curtis LeonhardtMarcus & MillichapMore Info
855-502-8604

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