Vernon office property with potential sold for $1.09M

A fully leased Vernon office building with future development potential under C-4 zoning has sold just under list price for $1.09 million, reports Macdonald Commercial Real Estate Services Ltd.

Breakdown:

Property type: Single-storey office commercial

Location: 35^th Avenue, Vernon, B.C.

Zoning: C4 Street-oriented commercial

Property size: 4,632 square feet

Land size: 12,023 square feet

Development potential: 18,000 square feet of commercial (approx.)

List price: $1.2 million                                                                                                                                                                          

Sale price: $1.09 million

Date of sale: October 15, 2019

Brokerage: Macdonald Commercial Real Estate Services Ltd., Vancouver

Brokers: Stuart Wright and Nick Goulet