Midtown Mall $ 8,350,000
2707 43rd Avenue, Vernon, BC

Midtown Mall $8,350,000.

2707 43rd Avenue, Vernon, BC

Property Description

HM Commercial Group is pleased to present this rare opportunity for a mature fully leased retail centre anchored by Dollar Tree, BDM Motorsports and Cloverdale Paint.

Midtown Mall offers numerous benefits, including:

  • Income producing centre with strong anchor tenants
  • At $179 PSF, price is below replacement cost, with income in place to support debt service
  • Gross Leasable Area (GLA) of 46,676 SF on 3.35 acres
  • Surplus land for expansion, re-development potential
  • Average base rent is only $10.70 PSF
  • Most lease terms are 5 to 10 years
  • Central location next to a new Shoppers Drug Mart and across from a high school
  • C-5, Community Commercial zoning allows wide parameter of business uses
  • Ample on-site parking for customers and staff
  • $4.15 CAM/Tax keeps tenant costs low
  • Restore: Habitat for Humanity joining the centre Summer 2019
  • 6.0% Yield

Additional Information

Municipal Address2707 43rd Avenue, Vernon, BC
Legal DescriptionLot 1 Section 3 Twp 8 ODYD Plan KAP49929
LocationMidtown Mall is located in the geographical centre of Vernon’s central business district. The property has two ingress/egress points off 43rd Avenue and an ingress/egress point off 44th Avenue at the rear of the property
Development Site Area3.35 acres
Building Area46,676
Land Area3.335 acres
ParkingAmple parking for customers and staff.
ZoningC-5, Community Commercial
Taxes$93,513 (2017)

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Direct: 250.712.3130
Fax: 250.860.1600

2700 Richter St. Kelowna, BC V1Y 2R5