Property Information:
Attractive investment opportunity has a 5% cap rate with 10% increases every 5 years starting in 2025. Building was rebuilt in 2000 and has long-term tenants - Teriyaki House, a convenience store, and a sushi restaurant - that keep it busy with customers, students, and sports fans. Located 38 km west of Victoria in the scenic tourist destination of Sooke, summer revenues are boosted by the town's popularity. Over the years, Sooke has become one of the fastest growing communities in B.C., with a vibrant blend of families and international migrants. The site is situated at one of the main intersections into and out of town, with constant traffic from the nearby Edward Milne Community School and Fred Milne Sports Park. It is on a well-used walking corridor and near the entrance to the popular Sooke Potholes Provincial Park along the Sooke River. As a seaside community with forward-thinking planners, Sooke is looking to meet future residents' needs. The C1 zoning allows a 4-story building.
Inclusions: Electric,Parking,Real Estate
Exclusions : Equip/Machinery,Fixtures,Franchise,Good Will,Inventory,Leasehold Improvements,Supplies,Trade Name(s)
