A centrally located Nanaimo industrial building has sold for $1 million, according to William Wright Commercial.
The commercial building was marketed towards investors, with an approximate 7 per cent return on gross revenue. The 4,036-square-foot building was built in 1959 and used primarily for warehouse and storage use. The warehouse is situated on a 21,389-square-foot lot with ample parking space. The property sold for close to double its assessed value and just under its list price of $1,049,000.
The property is located at 1716 Kidson Rd., Nanaimo.
Breakdown:
Price: $1,000,000
Property Size: 4,036 SF
Property Type: Industrial
2016 B.C. Assessment Value: $539,000
Date of Sale: 07/31/2017
City: Nanaimo
Province: B.C.
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