1.07 ACRetail$3,900,000Sale
1.07 AC
Retail
$3,900,000
Sale
Connor Eden
Tetra Realty Advisors
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Tetra Realty Advisors Inc. and Marcus & Millichap REIS Canada Inc. are excited to present for sale an opportunity to acquire a high-quality, recently constructed gas bar and convenience store located at 2150 Rutland Road N, Kelowna, B.C. (the “Subject Property”). The Subject Property is leased to Otter Farm & Home Co-Operative, on a completely carefree NNN land lease with minimal landlord obligations. Situated in Reid’s Corner, the Subject Property benefits from excellent access to major transportation routes, just off Highway 97 (Okanagan Highway). Overall, the Subject Property represents an opportunity for an investor to acquire a recently constructed, hassle-free investment in one of British Columbia’s fastest growing metropolitan markets.
The Space
Asking Price$3,900,000
Available Space1.07 AC
Floor1
Net Operating Income$$196,020
Property UseRetail
SourceDirect
The Building
OFFERING HIGHLIGHTS: CORPORATE COVENANT Otter Farm & Home Co-Operative currently operates 25 gas bars throughout B.C. The CO-OP brand serves as the banner for a consortium of retail cooperative associations in Western Canada and employs over 23,500 people in over 160 locations. STRINGENT ENVIRONMENTAL TENANT RESPONSIBILITIES Tenant obligated to enroll in program with ongoing environmental monitoring requirements. LANDLORD-FRIENDLY NNN LAND LEASE The tenant operates under a NNN land lease, providing the landlord with a completely carefree investment, and is not responsible for any costs, charges, expenses and outlays of any nature arising from or relating to the premises. LONG-TERM LEASE WITH RENTAL ESCALATIONS The tenant is operating on a 20 year lease with scheduled rent escalations every 5 years providing stability and long-term income security. RECENT CONSTRUCTION Constructed in 2019, the Subject Property offers long-term operational efficiency with minimal maintenance costs and is fully equipped with a gas bar, convenience store (c-store), and car wash. LOCATION The Subject Property is strategically located along Rutland Road North, providing nearby access to key arterial routes including Okanagan Highway, Old Vernon Road, and Sexsmith Road.
Property TypeRetail
Floors1
Building Size3,040 ft²
Lot Size1.07 AC
Up to $500K for British Columbia businesses
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